District of Columbia Foreclosures Head Back Down in August

District of Columbia foreclosure activity fell in August to 452 properties with foreclosure filings for the month, a 13 percent decrease from the previous month and 30 percent below the level reported in August 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“After climbing for two months, the District’s foreclosures fell both in August and from the level reported this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decline was in default notices, which dropped 52 percent for the month. The region had one of the highest jumps in home sales during the second quarter, contributing to this recent decline in foreclosure activity.”

 

With one in every 629 housing units receiving a foreclosure filing in the District during August.

 

District a minor contributor to nation’s foreclosure activity in August

The district accounted for less than one percent of the 358,471 properties with foreclosure filings reported nationwide in August. Total U.S. activity declined fractionally from the previous month but was still 18 percent ahead of August 2008. One in every 357 U.S. housing units received a foreclosure filing during the month.

 

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 month — 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 month — which is extremely rare — 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 Foreclosure Rates – August 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl Avg

/State Avg

 

 

 

 

 

 

 

 

 

 

United States

62,070

76,154

105,850

38,263

76,134

358,471

357

n/a

n/a

District of Columbia

129

0

292

0

31

452

629

0.57

n/a

 

 

District of Columbia Foreclosure Totals – August 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg July 09

% Chg Aug 08

 

 

 

 

 

 

 

 

 

 

United States

62,070

76,154

105,850

38,263

76,134

358,471

357

6.74

32.32

District of Columbia

129

0

292

0

31

452

629

-13.24

-30.35

 

 

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