District of Columbia Foreclosure Activity Declines in October

Statewide filings down 39 percent from September

 

Foreclosure filings in the District of Columbia declined in October, down 39 percent from the previous month to 258 properties with foreclosure filings, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The latest monthly total is still 14 percent ahead of the District’s foreclosure level reported one year ago.

 

“Foreclosures in the district decreased significantly in October,” said James J. Sacccio, chief executive officer of RealtyTrac. “The largest decline was in auctions and bank-owned properties, which both dropped 55 percent for the month.”

 

With one in every 1,102 housing units in the District received a foreclosure filing in October.

 

District an insignificant contributor to nation’s foreclosure total for October

The District of Columbia accounted for less than 1 percent of the 332,292 properties with foreclosure filings reported nationwide in October. Total U.S. activity declined 3 percent from the previous month but was still 19 percent ahead of October 2008. One in every 385 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.

 

 

District of Columbia Foreclosure Rate – October 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

51,373

72,916

94,850

36,076

77,077

332,292

385

n/a

n/a

District of Columbia

113

0

99

0

46

258

1,102

0.35

n/a

 

 

 

 

District of Columbia Foreclosure Totals – October 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Sept 09

% Chg    Oct 08

 

 

 

 

 

 

 

 

 

 

United States

51,373

72,916

94,850

36,076

77,077

332,292

385

-3.30

18.86

District of Columbia

113

0

99

0

46

258

1,102

-38.57

13.66

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