Delaware Foreclosure Activity Rises in April

Statewide filings up 30 percent from March; up 140 percent from year ago

 

Monthly foreclosure activity in Delaware rose 30 percent from the previous month to 446 properties with foreclosure filings. This latest state total also represents a 140 percent year-over-year increase in foreclosure filings from April 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Delaware foreclosures were up significantly in April and dramatically from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in bank-owned properties, which climbed 33 percent for the month. Also contributing to the recent rise in foreclosures is the state’s home sales, which were lower than the national average last year, and its home prices, which declined further than most states.”

 

Delaware ranked 40th in the country in total foreclosures for the month. With one in every 881 housing units receiving a foreclosure filing, its foreclosure rate ranked 31st among the 50 states.

 

Kent County tops in foreclosure rate for April

With one in every 437 housing units receiving a foreclosure filing — twice the state average — Kent County posted the highest county foreclosure rate in the state for the month. Sussex County came in second, with one in every 1,070 housing units receiving a foreclosure filing. New Castle County was third, with one in every 1,106 housing units receiving a foreclosure filing.

 

Highest foreclosure total in New Castle County for April

New Castle County led all counties in the state, reporting 193 properties with foreclosure filings for the month. Kent County came in second highest, documenting 144 properties with foreclosure filings. Reporting 109 properties with foreclosure filings for the month, Sussex County ranked third highest.

 

State a minor contributor to nation’s monthly foreclosure total

Delaware accounted for less than 1 percent of the 333,837 properties with foreclosure filings reported nationwide in April. Total U.S. activity declined more than 9 percent from the previous month and was 2 percent below the level reported in April 2009. One in every 387 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: DefaultNotice 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 – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every

X HU (rate)

/Natl.

Avg.

/State

Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

n/a

n/a

Delaware

0

0

0

281

165

446

881

0.44

n/a

 

 

 

 

 

 

 

 

 

 

Kent

0

0

0

106

38

144

437

0.89

2.02

Sussex

0

0

14

0

9

23

1,070

0.36

0.82

New Castle

0

0

0

112

81

193

1,106

0.35

0.80

 

 

Delaware Top Foreclosure Totals by County – April 2010

 

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every

X HU (rate)

% Chg

Jan 10

% Chg

Feb 09

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

-9.05

-2.40

Delaware

0

0

0

281

165

446

881

29.65

139.78

 

 

 

 

 

 

 

 

 

 

New Castle

0

0

0

112

81

193

1,106

-20.25

227.12

Kent

0

0

0

106

38

144

437

554.55

82.28

Sussex

0

0

0

63

46

109

1,070

36.25

127.08

 

 

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