Hawaii Foreclosure Activity Falls in July

Statewide filings down 7 percent from June

 

Foreclosure activity in Hawaii decreased 7 percent in July to 930 properties with foreclosure filings, 6 percent below the level reported in July 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

Hawaii welcomed a decline in foreclosure activity in July, with a total number of filings well below the previous month and compared to July 2009,” said James J. Saccacio, chief executive officer of RealtyTrac. “Hawaii’s unemployment rate was one of the lowest in the nation in July at 6.3 percent. This is a major contributing factor keeping foreclosure activity within the state at bay.”

 

The state foreclosure total ranked 35th nationally in July. One in every 551 Hawaii housing units received a foreclosure filing during the month, the 16th highest state foreclosure rate in the nation.

 

Maui County posts top county foreclosure rate in July

One in every 233 housing units in Maui County received a foreclosure filing in July, giving the county the top foreclosure rate in the state for the month. Hawaii County posted the second highest rate, with one in every 381 housing units receiving a foreclosure filing. Coming in third was Kauai County, where one in every 392 housing units received a foreclosure filing in July.

 

Honolulu County had top foreclosure total for July

Reporting 361 properties with foreclosure filings in July, Honolulu County led the state in total foreclosure activity. Second highest was Maui County, reporting 284 properties with foreclosure filings. Hawaii County came in third highest, tallying 209 properties with foreclosure filings. Fourth highest was Kauai County, where 76 properties with foreclosure filings were reported.

 

State a minor contributor to nation’s monthly foreclosure total

Hawaii accounted for less than 1 percent of the 325,229 properties with foreclosure filings reported nationwide in July. Total U.S. activity increased by more than 3 percent from the previous month but was down almost 10 percent from the level reported in July 2009. One in every 397 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 – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

n/a

n/a

Hawaii

63

0

455

0

412

930

551

0.72

n/a

 

 

 

 

 

 

 

 

 

 

Maui

13

0

136

0

135

284

233

1.70

2.37

Hawaii

8

0

99

0

102

209

381

1.04

1.45

Kauai

8

0

38

0

30

76

392

1.01

1.41

Honolulu

34

0

182

0

145

361

934

0.42

0.59

 

 

Hawaii Top Foreclosure Totals by County – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

3.63

-9.70

Hawaii

63

0

455

0

412

930

551

-7.00

-6.06

 

 

 

 

 

 

 

 

 

 

Honolulu

34

0

182

0

145

361

934

5.56

-33.39

Maui

13

0

136

0

135

284

233

5.19

57.78

Hawaii

8

0

99

0

102

209

381

-36.47

6.09

Kauai

8

0

38

0

30

76

392

28.81

7.04

 

 

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