LONDON (ShareCast) - US home foreclosure filings rose 14% in the second quarter and more than doubled year-on-year, according to a housing market report issued by research group RealtyTrac.

A total of 739,714 foreclosure filings were recorded during the quarter, up 121% from a year earlier, meaning that one of every 171 US households received a filing.

“Although much of the fallout from foreclosures is being driven by rampant activity in a few states, such as Nevada, California, Florida, Ohio, Arizona and Michigan, most areas of the country are seeing at least some increase in foreclosure activity,” said RealtyTrac chief executive James Saccacio.

“Forty-eight of 50 states and 95 out of the nation's 100 largest metro areas experienced year-over-year increases in foreclosure activity,” he added.

Meanwhile, the Commerce Department said sales of new single-family homes dropped by 0.6% last month to 530,000 units. The decline was slightly smaller than expected.

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