New Mexico defies U.S. numbers in Foreclosures

While foreclosure activity in the U.S. was up 75 percent in 2007, for a total of 2,202,295 foreclosure filings, from those of 2006, foreclosure filings in New Mexico were down 26 percent from 2006, with 3,893 filings.
The figures come from RealtyTrac's year-end data compiled in its 2007 U.S. Foreclosure Market Report. RealtyTrac provides a national database and reports of real estate statistics. It was founded in 1996.
The report defines foreclosure filings as default notices, auction sale notices and bank repossessions.
More than 1 percent of U.S. households were in some stage of foreclosure in 2007, up from about half a percent in 2006.
Nevada had the nation's highest foreclosure rate, with 3.4 percent of households in some stage of foreclosure, which was three times the national average. California had the highest number of filings, with 481,392.
Colorado and Arizona were among the top 10 in posted foreclosure rates. Texas, Colorado, Arizona and Nevada were among the top 10 in total foreclosures filed.
With its 26 percent decrease in foreclosure filings, New Mexico joins just four other states, Oklahoma, Pennsylvania, South Carolina and Utah, with foreclosure numbers that were lower than the year previous.

New Home Permits slide by 60%

Permits for the construction of new homes in the Albuquerque metro area declined nearly 60 percent in December 2007 compared to the same month in 2006, according to research firm DataTraq.
There were 390 permits issued in December 2006. The 161 permits issued this past December were down by just nine permits from the previous month. Although home building traditionally slows during the colder weather months, the decline in the number of permits issued is significantly lower year-to-year.
DR Horton Homes was issued the most permits in 2007, with 586. Following Horton as the builders with the most permit activity last year were: Pulte Homes, Centex Homes and KB Home, each of which had more than 300 permits issued for the construction of new homes.
The figures come from DataTraq's January Albuquerque New Housing Market Letter. DataTraq supplies housing permit data to several homebuilder organizations in New Mexico, including the Home Builders Association of Central New Mexico.