District of Columbia Foreclosure Activity Decreases in 2009

Statewide filings down 23 percent from 2008 and 44 percent from November

 

The District of Columbia tallied 3,235 properties with foreclosure filings in 2009, a 23 percent decrease from the total reported for 2008, but still 316 percent higher than the level reported for all of 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

Reporting 171 properties with foreclosure filings for December, the District had a 53 percent decrease in activity from the previous month, and was 43 percent below December 2008. One in every 1,662 housing units received a foreclosure filing in the District during the month.

 

“Foreclosures throughout the District have declined both in 2009 and for the month of December,” said James J. Saccacio, chief executive officer of RealtyTrac. “While the region’s unemployment rate is still well above the national average, home sales are really beginning to pick up. If this trend persists, we may see foreclosures continue to fall here in 2010.”

 

For all of 2009, the District’s reported a foreclosure rate of one in every 88 housing units receiving a foreclosure filing.

 

District a minor contributor to nation’s foreclosure total in 2009

The District accounted for less than 1 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.

 

 

District of Columbia Top Foreclosure Rates: 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

District of Columbia

3,235

1.14

88

-22.64

316.34

 

 

District of Columbia Top Foreclosure Totals: 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

District of Columbia

3,235

1.14

88

-22.64

316.34

 

 

District of Columbia Top Foreclosure Rates: – 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

District of Columbia

0

0

127

0

44

171

1,662

0.22

n/a

 

 

District of Columbia Top Foreclosure Totals – 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

District of Columbia

0

0

127

0

44

171

1,662

-52.76

-43.38

 

 

 

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