Atlanta Metro Area Foreclosure Activity Up 18 Percent in 2009

Activity up 33 percent from November

 

The Atlanta metro area ended 2009 tallying 78,835 properties with foreclosure filings, an 18 percent increase from the total reported for 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

For December, the metro area reported 9,356 properties with foreclosure filings, a 33 percent increase over the previous month, and up 16 percent from December 2008. The metro area’s foreclosure rate — one in every 226 housing units received a foreclosure filing — was 39th highest among the 203 metro areas tracked in the RealtyTrac report.

 

“Foreclosure filings rose significantly in the Atlanta metro area in December, as the area ended 2009 with an annual level of activity well above what was reported for 2008,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment in Georgia recently hit a record high of 10.1 percent, with two thirds of those job losses attributed to the Atlanta area, causing concern among the region’s more financially-strapped residents.”

 

With one in every 27 housing units receiving a foreclosure filing during 2009, Atlanta Metro Area’s foreclosure rate ranked 34th highest among the 203 metro areas tracked in the RealtyTrac report for the year.

 

Newton County posted metro area’s highest foreclosure rate for 2009

With one in every 13 housing units receiving a foreclosure filing in 2009, Newton County posted the highest county foreclosure rate in the metro area for the year. Walton County followed in second, reporting one in every 15 housing units receiving a foreclosure filing. Henry County came in third highest, reporting one in every 17 housing units receiving a foreclosure filing. Barrow County was fourth highest also with one in every 17 housing units receiving a foreclosure filing. Fifth highest rate was in Douglas County, where one in every 19 housing units received a foreclosure filing during the year.

 

Fulton County led metro area in total foreclosure activity for 2009

Fulton County reported 15,044 properties with foreclosure filings in 2009, the highest county foreclosure activity in the state for the year. Gwinnett County came in second, documenting 11,939 properties with foreclosure filings. Reporting 10,104 properties with foreclosure filings for the year, Dekalb County had the third highest total in the metro area. Cobb County was fourth highest, reporting 7,503 properties with foreclosure filings, followed by Clayton County in fifth place, tallying 4,969 properties with foreclosure filings for all of 2009.

 

State ranks in nation’s top echelon for foreclosure filings in 2009

Georgia reported 106,110 properties with foreclosure filings for 2009, giving it the seventh highest state total in the nation. This latest total represents a 24 percent increase from 2008. One in every 37 Georgia housing units received a foreclosure filing during the 2009, the seventh highest state foreclosure rate in the nation.

 

State a significant contributor to nation’s foreclosure total in 2009

Georgia accounted for 4 percent of the 2,824,674 properties with foreclosure filings reported nationwide in 2009. Total U.S. activity increased more than 21 percent over the level reported for all of 2008. One in every 45 U.S. housing units received a foreclosure filing during the year.

 

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.

 

Atlanta Metro Area Top Foreclosure Rates By County:

Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

%Chg

from 2008

%Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Atlanta Metro Area

78,835

3.73

27

17.65

n/a

Georgia

106,110

2.68

37

24.46

79.67

 

 

 

 

 

 

Newton

2,743

7.42

13

146.23

365.70

Walton

2,054

6.46

15

44.55

283.21

Henry

4,294

6.02

17

12.50

46.30

Barrow

1,477

5.78

17

45.09

207.07

Douglas

2,587

5.33

19

26.26

57.17

 

 

Atlanta Metro Area Top Foreclosure Totals by County:

Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

% Chg  

from 2008

%Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Atlanta Metro Area

78,835

3.73

27

17.65

n/a

Georgia

106,110

2.68

37

24.46

79.67

 

 

 

 

 

 

Fulton

15,044

3.49

29

-12.54

15.07

Gwinnett

11,939

4.21

24

47.03

114.54

Dekalb

10,104

3.30

30

1.17

10.27

Cobb

7,503

2.70

37

25.83

70.83

Clayton

4,969

4.69

21

1.93

19.73

 

 

Atlanta Metro Area Top Foreclosure Rates By County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl Avg

/State Avg

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

n/a

n/a

Atlanta Metro Area

0

0

6,085

0

3,271

9,356

226

n/a

n/a

Georgia

0

0

8,671

0

4,305

12,976

305

1.20

n/a

 

 

 

 

 

 

 

 

 

 

Henry

0

0

347

0

186

533

134

2.74

2.28

Barrow

0

0

133

0

58

191

134

2.74

2.28

Walton

0

0

164

0

71

235

135

2.70

2.26

Newton

0

0

163

0

92

255

145

2.52

2.11

Jackson

0

0

101

0

41

142

166

2.20

1.84

 

 

Atlanta Metro Area Top Foreclosure Totals by County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Nov 09

% Chg Dec 08

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

13.99

15.20

Atlanta Metro Area

0

0

6,085

0

3,271

9,356

226

33.37

16.31

Georgia

0

0

8,671

0

4,305

12,976

305

34.27

29.36

 

 

 

 

 

 

 

 

 

 

Fulton

0

0

1,041

0

498

1,539

280

2.06

4.48

Gwinnett

0

0

902

0

489

1,391

204

37.31

31.72

Dekalb

0

0

835

0

464

1,299

236

35.17

-1.22

Cobb

0

0

612

0

308

920

302

54.10

29.58

Clayton

0

0

381

0

247

628

169

39.87

-1.41

 

 

 

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