Delaware Foreclosure Activity Increases in January

Statewide filings up 79 percent from December; Up 164 percent from year ago

 

Foreclosure activity in Delaware increased in January to 460 properties with foreclosure filings, a 79 percent rise from December 2009 and 164 percent ahead of the level reported in January 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity in Delaware spiked drastically both in January and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Auction notices posted the largest increases, up 124 percent from the previous month and 240 percent ahead of a year ago.”

 

Delaware ranked 40th among the 50 states for total foreclosure filings in January. One in every 854 Delaware housing units received a foreclosure filing in January, the 30th highest foreclosure rate in the nation.

 

Kent County posts top foreclosure rate in the state for January

With one in every 437 housing units receiving a foreclosure filing — twice the state average — Kent County posted the state’s highest county foreclosure rate in January. New Castle County had the second highest rate, with one in every 893 housing units receiving a foreclosure filing — on par with the state average. Sussex County was third, with one in every 1,514 housing units receiving a foreclosure filing.

 

New Castle County led the state in total foreclosure filings for January

New Castle County led all counties, totaling 239 properties with foreclosure filings for the January. Kent County was second highest, documenting 144 properties with foreclosure filings. Reporting 77 properties with foreclosure filings for the month, Sussex County had the third highest total.

 

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

Delaware accounted for less than 1 percent of the 315,716 properties with foreclosure filings reported nationwide in January. Total U.S. activity declined nearly 10 percent from the previous month but was still 15 percent ahead of January 2009. One in every 409 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.

 

 

Delaware Top Foreclosure Rates By County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

n/a

n/a

Delaware

0

0

0

347

113

460

854

0.48

n/a

 

 

 

 

 

 

 

 

 

 

Kent

0

0

0

108

36

144

437

0.93

1.96

New Castle

0

0

0

178

61

239

893

0.45

0.96

Sussex

0

0

0

61

16

77

1,514

0.27

0.56

 

 

Delaware Top Foreclosure Totals by County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Dec 09

% Chg Jan 09

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

-9.67

15.06

Delaware

0

0

0

347

113

460

854

78.99

164.37

 

 

 

 

 

 

 

 

 

 

New Castle

0

0

0

178

61

239

893

378.00

397.92

Kent

0

0

0

108

36

144

437

60.00

136.07

Sussex

0

0

0

61

16

77

1,514

-34.19

18.46

 

 

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