District of Columbia Foreclosure Activity Down in February

Filings decrease 7 percent from January: Down 53 percent from February 2009

 

Foreclosure activity in the District of Columbia decreased in February to 178 properties with foreclosure filings, down 7 percent from the previous month and 53 percent below the level reported in February 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosures throughout the district fell in February and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest drop was in bank-owned properties, which decreased 43 percent during the month. Despite the region’s high unemployment rate, home sales here were higher than the national average last year. This has definitely contributed to the decline.”

 

The district ranked 45th in the country in total foreclosures reported for the month. With one in every 1,603 housing units receiving a foreclosure filing, its foreclosure rate of ranked 39th among the 50 states.

 

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

The district accounted for less than 1 percent of the 308,524 properties with foreclosure filings reported nationwide in February. Total U.S. activity declined more than 2 percent from the previous month but was still 6 percent ahead of February 2009. One in every 418 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.

 

 

District of Columbia Top Foreclosure Rate – February 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every

X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

46,207

60,001

84,641

38,992

78,683

308,524

418

n/a

n/a

District of Columbia

0

0

145

0

33

178

1,603

0.26

n/a

 

 

 

 

 

 

 

 

 

 

District of Columbia

0

0

145

0

33

178

1,603

0.26

1.00

 

 

District of Columbia Top Foreclosure Totals – February 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every

X HU (rate)

% Chg

Jan 10

% Chg

Feb 09

 

 

 

 

 

 

 

 

 

 

United States

46,207

60,001

84,641

38,992

78,683

308,524

418

-2.28

6.22

District of Columbia

0

0

145

0

33

178

1,603

-7.29

-53.03

 

 

 

 

 

 

 

 

 

 

District of Columbia

98

0

10

0

31

178

1,603

-7.29

-53.03

 

 

 

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