District of Columbia Foreclosure Activity Decreases in August

Filings decrease 14 percent from July

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 195 District of Columbia properties in August, a 14 percent decrease from the previous month and a 57 percent decrease from August 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

            “Foreclosures throughout the district were down in August,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decrease was in auctions, which fell 22 percent for the month. While the region’s unemployment rate is still above the national average, it did fall slightly in recent months. This may be contributing to the overall decline.”

The district ranked 45 in the country in total foreclosures when compared to the 50 states. With a foreclosure rate of one in every 1,463 housing units receiving a foreclosure filing during the month, its foreclosure rate ranked 39th.

District contributes less than 1 percent to nation’s monthly foreclosure total

The district accounted for less than 1 percent of the 338,836 properties with foreclosure filings reported nationwide in August. Total U.S. activity increased by more than 4 percent from the previous month, but was down more than 5 percent from the level reported in August 2009. One in every 381 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.

 

 

District of Columbia Top Foreclosure Rates By County – August 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,887

51,582

95,887

51,116

95,364

338,836

381

n/a

n/a

District of Columbia

0

0

149

0

46

195

1,463

0.26

n/a

 

 

 

 

 

 

 

 

 

 

District of Columbia

0

0

149

0

46

195

1,463

0.26

n/a

 

 

District of Columbia Top Foreclosure Totals by County – August 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

44,887

51,582

95,887

51,116

95,364

338,836

381

4.18

-5.48

District of Columbia

0

0

149

0

46

195

1,463

-14.47

-56.86

 

 

 

 

 

 

 

 

 

 

District of Columbia

0

0

149

0

46

195

1,463

-14.47

-56.86

 

 

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