Delaware Reports Nearly 300 Properties With Foreclosure Filings in July

Activity down 13 percent from June; up 126 percent from a year ago.

 

Delaware reported 298 properties with foreclosure filings for July, a 13 percent decrease from the previous month, but still 126 percent above the level reported in July 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. 

 

“Foreclosure activity in Delaware slowed down in July, although remaining at more than double from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac.

“Unemployment dropped to 8.2 percent in July, but many homeowners are still struggling to find work to pay their mortgages.”

 

Delaware ranked 43rd in the country in total properties with foreclosure filings for July. One in every 1,304 Delaware housing units received a foreclosure filing during the month, ranking 37th among the 50 states.

 

Kent County posts state’s top foreclosure rate in July

With one in every 856 housing units receiving a foreclosure filing — 1.5 times the state average — Kent County posted the highest county foreclosure rate in the state for July. New Castle County came in second highest, with one in every 1,193 housing units receiving a foreclosure filing during the month — 1.1 times the state average. Third highest rate was documented in Sussex County, where one in every 2,387 housing units received a foreclosure filing.

 

New Castle County leads state in foreclosure activity for July

New Castle County tallied the highest activity level, reporting 178 properties with foreclosure filings for the month. Kent County came in second, documenting 72 properties with foreclosure filings. Sussex County tallied 48 properties with foreclosure filings, the third highest total in the state.

 

State a minor contributor to nation’s foreclosure activity in July

Delaware accounted for less than 1 percent of the 360,149 properties with foreclosure filings reported nationwide in July. Total U.S. activity rose almost 7 percent from the previous month and was more than 32 percent ahead of July 2008. One in every 355 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. 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 filed against a property during the month — which is extremely rare — 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 – July 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl Avg

/State Avg

 

 

 

 

 

 

 

 

 

 

United States

62,939

71,565

104,830

33,557

87,258

360,149

355

n/a

n/a

Delaware

0

0

0

226

72

298

1,304

0.27

n/a

 

 

 

 

 

 

 

 

 

 

Kent

0

0

0

57

15

72

856

0.41

1.52

New Castle

0

0

0

138

40

178

1,193

0.30

1.09

Sussex

0

0

0

31

17

48

2,387

0.15

0.55

 

 

Delaware Top Foreclosure Totals by County – July 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 09

% Chg July 08

 

 

 

 

 

 

 

 

 

 

United States

62,939

71,565

104,830

33,557

87,258

360,149

355

6.74

32.32

Delaware

0

0

0

226

72

298

1,304

-12.61

125.76

 

 

 

 

 

 

 

 

 

 

New Castle

0

0

0

138

40

178

1,193

-17.59

368.42

Kent

0

0

0

57

15

72

856

28.57

63.64

Sussex

0

0

0

31

17

48

2,387

-30.43

-4.00

 

 

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