Arkansas Foreclosure Activity Declines in February

Statewide filings decline nominally from previous month

 

Foreclosure activity in Arkansas was virtually unchanged in February to 2,010 properties with foreclosure filings, down less than 1 percent from the previous month, but still 24 percent ahead of the level reported in February 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

Arkansas reported an insignificant drop in foreclosure filings for February, though activity remained well above what was reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, even with a comparatively low unemployment rate, Arkansas is still feeling the effects of the nation-wide recession.”

 

The state foreclosure total ranked 30th in the nation for February. One in every 646 Arkansas housing units received a foreclosure filing in February, the 19th highest state foreclosure rate for the month.

 

Benton County posts state’s top foreclosure rate and total for February

With one in every 183 housing units receiving a foreclosure filing — 2.3 times the national average and 3.5 times the state average — Benton County posted the state’s highest county foreclosure rate in February. Benton County also had the highest foreclosure total, reporting 473 properties with foreclosure filings for the month.

 

With one in every 284 housing units receiving a foreclosure filing — 1.5 times the national average and 2.3 times the state average — Lonoke County had the second highest foreclosure rate. Washington County came in third highest, with one in every 329 housing units receiving a foreclosure filing — 1.3 times the national average and twice the state average.

 

Pulaski County had the second highest foreclosure total, documenting 339 properties with foreclosure filings for the month. Reporting 254 properties with foreclosure filings, Washington County ranked third highest. Garland County came in fourth place, reporting 104 properties with foreclosure filings, while the fifth highest total was in Lonoke County, where 91 properties with foreclosure filings were reported for February.

 

State a minor contributor to nation’s foreclosure total in February

Arkansas accounted for 1 percent of the 308,524 properties with foreclosure filings reported nationwide in February. Total U.S. activity declined more than 2 percent from the previous month but was still 6 percent ahead of February 2009. One in every 418 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

Arkansas Top Foreclosure Rates By County – February 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

46,207

60,001

84,641

38,992

78,683

308,524

418

n/a

n/a

Arkansas

121

0

1,246

0

643

2,010

646

0.65

n/a

 

 

 

 

 

 

 

 

 

 

Benton

34

0

219

0

220

473

183

2.29

3.53

Lonoke

4

0

50

0

37

91

284

1.47

2.27

Washington

12

0

167

0

75

254

329

1.27

1.96

Crawford

2

0

47

0

22

71

332

1.26

1.94

Greene

9

0

29

0

4

42

427

0.98

1.51

 

 

Arkansas Top Foreclosure Totals by County – February 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Jan 10

% Chg Feb 09

 

 

 

 

 

 

 

 

 

 

United States

46,207

60,001

84,641

38,992

78,683

308,524

418

-2.28

6.22

Arkansas

121

0

1,246

0

643

2,010

646

-0.05

24.38

 

 

 

 

 

 

 

 

 

 

Benton

34

0

219

0

220

473

183

-5.40

39.53

Pulaski

20

0

238

0

81

339

519

14.92

14.92

Washington

12

0

167

0

75

254

329

-27.01

-13.90

Garland

5

0

60

0

39

104

453

-35.00

44.44

Lonoke

4

0

50

0

37

91

284

19.74

68.52

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved