Total foreclosure filings statewide soar from a year ago.
“Foreclosure activity in
Hawaii ranked 35th in the country in total properties with foreclosure filings for May. One in every 621 Hawaii housing units received a foreclosure filing during the month, ranking 15th among the 50 states.
Honolulu County tops in foreclosure activity for May
Kauai County posts state’s highest foreclosure rates for May
With one in every 374 housing units receiving a foreclosure filing during the month, Kauai County posted the highest county foreclosure rate in the state. Maui County had the second highest rate, with one in every 380 housing units receiving a foreclosure filing. Third highest rate was found in Hawaii County, where one in every 462 housing units received a foreclosure filing during the month.
State a minor contributor to nation’s foreclosure activity for May
Foreclosure activity in Hawaii represented less than 1 percent of the 321,480 properties with foreclosure filings reported nationwide in May. Total U.S. activity fell 6 percent from the previous month but was still nearly 18 percent ahead of May 2008. One in every 398 U.S. housing units received a foreclosure filing during the month.
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.
Hawaii Foreclosure Market Data by County – May 2009
1/every X HU (rate)
% Chg Apr 09
% Chg May 08