Hawaii Foreclosure Activity Declines in January

Statewide filings down 15 percent from December

 

Foreclosure activity in Hawaii decreased in January to 1,302 properties with foreclosure filings, a 15 percent decline from December 2009, but still up 286 percent from January 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 394 Hawaii housing units received a foreclosure filing in January, the 11th highest foreclosure rate in the nation.

 

Hawaii’s drop in foreclosure filings for January brought some welcome relief to islanders who are still struggling to hold onto their homes,” said James J. Saccacio, chief executive officer of RealtyTrac. “Though the state’s job market has remained relatively steady over the past several months, its level of foreclosure activity remains nearly four times what was reported for this time last year.”

 

Hawaii County posts top foreclosure rate in the state for January

Hawaii County posted the state’s highest county foreclosure rate in January, with one in every 244 housing units receiving a foreclosure filing — 1.7 times the national average. Maui County had the second highest foreclosure rate, with one in every 263 housing units receiving a foreclosure filing — 1.5 times the national average. Kauai was third, with one in every 408 housing units receiving a foreclosure filing — on par with the national average. Honolulu County came in fourth highest foreclosure rate, with one in every 517 housing units receiving a foreclosure filing.

 

Honolulu County led the state in total foreclosure filings for January

Honolulu County led all counties, totaling 652 properties with foreclosure filings for the month. Hawaii County was second highest, documenting 326 properties with foreclosure filings. Reporting 251 properties with foreclosure filings for the month, Maui County had the third highest total. Kauai County came in fourth highest, reporting 73 properties with foreclosure filings.

 

State a minor contributor to nation’s foreclosure total in January

Hawaii accounted for less than 1 percent of the 315,716 properties with foreclosure filings reported nationwide in January. Total U.S. activity declined nearly 10 percent from the previous month but was still 15 percent ahead of January 2009. One in every 409 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.

 

 

Hawaii Top Foreclosure Rates By County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

n/a

n/a

Hawaii

95

0

862

0

345

1,302

394

1.04

n/a

 

 

 

 

 

 

 

 

 

 

Hawaii

15

0

208

0

103

326

244

1.66

1.61

Maui

23

0

172

0

56

251

263

1.54

1.50

Kauai

11

0

51

0

11

73

408

0.99

0.97

Honolulu

46

0

431

0

175

652

517

0.78

0.76

 

 

Hawaii Top Foreclosure Totals by County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Dec 09

% Chg Jan 09

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

-9.67

15.06

Hawaii

95

0

862

0

345

1,302

394

-15.12

286.35

 

 

 

 

 

 

 

 

 

 

Honolulu

46

0

431

0

175

652

517

1.40

328.95

Hawaii

15

0

208

0

103

326

244

-36.94

312.66

Maui

23

0

172

0

56

251

263

-15.49

221.79

Kauai

11

0

51

0

11

73

408

-5.19

160.71

 

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved