Atlanta Metro Area Foreclosure Activity Rises in July

Metro Area filings up 3 percent from June

 

Foreclosure activity in The Atlanta Metro Area increased 3 percent in July to 8,984 properties with foreclosure filings, still 7 percent above the level reported in July 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“The Atlanta metro area reported another uptick in foreclosure filings in July as activity exceeded both the previous month and the same time period last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “High unemployment is largely to blame for the metro area’s inflated foreclosure rate, as just above 10 percent of the region’s workforce remains jobless.”

 

The Atlanta Metro Area had the eighth highest foreclosure total in the nation for the month among the top 206 large metro areas with populations exceeding 200,000 surveyed every month by RealtyTrac. One in every 240 Atlanta metro area housing units received a foreclosure filing in July, ranking 35th among the same 206 metro areas.

 

Newton, Douglas counties posts metro area’s top foreclosure rate in July

One in every 141 housing units in Newton and Douglas counties received a foreclosure filing in July, giving them the top foreclosure rate in the metro area for the month. Coming in third was Walton County, where one in every 165 housing units received a foreclosure filing in July.

 

Fulton County leads metro area in total foreclosures for July

Reporting 1,702 properties with foreclosure filings in July, Fulton County led the metro area in total foreclosure activity. Second highest total was in Gwinnett County, reporting 1,374 properties with foreclosure filings. Dekalb County came in third highest, tallying 1,187 properties with foreclosure filings. Fourth highest was Cobb County, where 1,004 properties with foreclosure filings were reported. Clayton County was fifth, reporting 538 properties with foreclosure filings for the month.

 

Statewide foreclosure activity increases in July

Georgia reported 12,577 properties with foreclosure filings in July, giving it the seventh highest state total in the nation. This latest total represents a 4 percent increase from the previous month and is 13 percent above of the level reported in July 2009. One in every 320 Georgia housing units received a foreclosure filing during the month, the ninth highest state foreclosure rate in the nation.

 

State a moderate contributor to nation’s monthly foreclosure total

Georgia accounted for 4 percent of the 325,229 properties with foreclosure filings reported nationwide in July. Total U.S. activity increased by more than 3 percent from the previous month, but was down almost 10 percent from the level reported in July 2009. One in every 397 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.

 

 

The Atlanta Metro Area Top Foreclosure Rates by County – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

n/a

n/a

Georgia

0

0

6,957

0

5,620

12,577

320

1.24

n/a

Atlanta MSA

0

0

5,032

0

3,952

8,984

240

1.66

n/a

 

 

 

 

 

 

 

 

 

 

Newton

0

0

156

0

113

269

141

2.82

2.28

Douglas

0

0

204

0

146

350

141

2.81

2.27

Walton

0

0

120

0

76

196

165

2.41

1.94

Henry

0

0

216

0

170

386

191

2.08

1.68

Rockdale

0

0

117

0

44

161

197

2.01

1.62

 

 

The Atlanta Metro Area Top Foreclosure Totals by County – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

3.63

-9.70

Georgia

0

0

6,957

0

5,620

12,577

320

4.49

12.94

Atlanta MSA

0

0

5,032

0

3,952

8,984

240

3.49

7.13

 

 

 

 

 

 

 

 

 

 

Fulton

0

0

961

0

741

1,702

260

6.38

-1.73

Gwinnett

0

0

755

0

619

1,374

210

-5.70

17.34

Dekalb

0

0

677

0

510

1,187

262

0.51

6.94

Cobb

0

0

503

0

501

1,004

279

9.85

13.57

Clayton

0

0

293

0

245

538

199

9.35

9.57

 

 

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