DISTRICT OF COLUMBIA FORECLOSURE ACTIVITY INCREASES 4 PERCENT IN FIRST QUARTER

Activity Down 23 Percent From Q1 2008

Monthly Activity Down 13 percent in March, Up 7 Percent From Year Ago

 

IRVINE, Calif. – April 27, 2009 – Foreclosure filings were reported on 837 District of Columbia properties in the first quarter of 2009, a 4 percent increase from the previous quarter, but 23 percent below the level reported for Q1 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

District of Columbia reported 328 properties with foreclosure filings in March, a 13 percent decrease from the previous month, but still 7 percent above its March 2008 total.

 

“Foreclosure activity rose slightly in the District of Columbia in the first quarter of 2009, though it decreased significantly compared to the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment continues to be a problem, but many workers are looking to the newly-approved federal stimulus package to provide some relief in the near future.”

 

One in every 340 District of Columbia housing units received a foreclosure filing during the quarter.

 

The District a minor contributor to nation’s foreclosure total for Q1 2009

The District of Columbia accounted for less than 1 percent of the 803,489 properties with foreclosure filings reported nationwide for the first quarter of 2009. The national total represented a 9 percent increase in activity from the previous quarter and was almost 24 percent ahead of the total reported for Q1 2008. One in every 159 U.S. housing units received a foreclosure filing during the quarter.

 

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 quarter  — 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 quarter — which is extremely rare — only the most recent filing is counted in the report.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

District of Columbia Foreclosure Market Data – Q1 2009

     Properties with Foreclosure Filings

 

 

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

%Change from Q4 08

%Change from Q1 08

 

 

 

 

 

 

 

 

 

 

United States

156,933

149,852

225,752

80,409

190,543

803,489

159

9.16

23.63

District of Columbia

274

0

400

0

163

837

340

4.23

-23.14

 

 

 

 

 

 

 

 

 

 

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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