District of Columbia Foreclosure Activity Falls in First Quarter

District foreclosure filings down markedly from last year

March numbers down from a month earlier and from a year ago

 

Foreclosure activity in the District of Columbia fell 17 percent during the first quarter of 2010 and was down 39 percent from the same period last year. In all, the district reported 508 properties with foreclosure filings during the quarter.

 

In March the district reported 156 properties with foreclosure filings, a 12 percent decrease from the previous month and 52 percent below the level reported in March 2009. One in every 1,829 District of Columbia housing units received a foreclosure filing during the month.

 

“Foreclosure activity declined significantly in the District of Columbia during the first quarter of 2010, with filings down from last quarter and as compared to the same period last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The area’s unemployment rate has improved recently, though it may take several months of job growth before any positive impact can be realized in terms of foreclosures.”

 

One in every 562 District of Columbia housing units received a foreclosure filing during the first quarter.

 

The District a minor contributor to quarterly foreclosure total

The District of Columbia represented less than 1 percent of the 932,234 properties with foreclosure filings reported nationwide for the first quarter of 2010. Total U.S. activity grew by more than 7 percent from the previous quarter and was 16 percent ahead of the first quarter 2009. One in every 138 U.S. housing units received a foreclosure filing during the quarter.

 

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 – Q1 2010

 

 

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

121,367

183,432

267,159

102,332

257,944

932,234

138

n/a

n/a

District of Columbia

0

0

378

0

130

508

562

0.25

n/a

 

 

 

 

 

 

 

 

 

 

 

 

District of Columbia Top Foreclosure Totals – Q1 2010

 

 

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q4 2009

% Chg Q1 2009

 

 

 

 

 

 

 

 

 

 

United States

121,367

183,432

267,159

102,332

257,944

932,234

138

7.23

16.02

District of Columbia

0

0

378

0

130

508

562

-16.58

-39.31

 

 

 

 

 

 

 

 

 

 

 

 

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