Idaho Foreclosure Activity Decreases in May

Statewide foreclosure filings fell 27 percent from April; Up 44 percent from May 2009

 

Foreclosure activity in Idaho fell 27 percent in May to 2,075 properties with foreclosure filings but rose 44 percent from the level reported in May 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

Idaho foreclosures were down in May,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decrease was in default notices, which fell 33 percent during the month. The state’s unemployment rate has been steadily declining and is below the national average. This is likely contributing to the recent decline.”

 

Idaho ranked 29th in the country in total foreclosures reported for the month. With one in every 309 housing units receiving a foreclosure filing, its foreclosure rate ranked 7th among the 50 states.

 

Canyon County dominates foreclosure rate in May

Canyon County posted the highest foreclosure rate in Idaho for May, with one in every 134 housing units receiving a foreclosure filing — three times the national average. Lincoln County came in second, with one in every 202 housing units receiving a foreclosure filing — twice the national average. Ada County had the third highest foreclosure rate, with one in every 212 housing units receiving a foreclosure filing — 1.9 times the national average. Teton County documented the fourth highest foreclosure rate, with one in every 223 housing units receiving a foreclosure filing — 1.8 times the national average.

 

Ada County tops in foreclosure total for May

Ada County came out on top, reporting 735 properties with foreclosure filings for the month. Canyon County followed in second, documenting 507 properties with foreclosure filings. Reporting 216 properties with foreclosure filings for the month, Kootenai County reported the third highest ranking. Bonneville County was fourth highest, reporting 90 properties with foreclosure filings.

 

State contributes 1 percent to nation’s monthly foreclosure total in May

Idaho accounted for 1 percent of the 322,920 properties with foreclosure filings reported nationwide in May. Total U.S. activity declined by more than 3 percent from the previous month but was on par with the level reported in May 2009. One in every 400 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.

 

Idaho Top Foreclosure Rates By County – May 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

38,389

58,073

94,155

38,526

93,777

322,920

400

n/a

n/a

Idaho

882

0

857

0

336

2,075

309

1.29

n/a

 

 

 

 

 

 

 

 

 

 

Canyon

214

0

207

0

86

507

134

2.98

2.31

Lincoln

0

0

7

0

2

9

202

1.98

1.53

Ada

322

0

299

0

114

735

212

1.88

1.46

Teton

11

0

6

0

5

22

223

1.80

1.39

Shoshone

11

0

10

0

9

30

242

1.65

1.28

 

Idaho Top Foreclosure Totals by County – May 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Apr 10

% Chg May 09

 

 

 

 

 

 

 

 

 

 

United States

38,389

58,073

94,155

38,526

93,777

322,920

400

-3.27

0.45

Idaho

882

0

857

0

336

2,075

309

-26.76

43.70

 

 

 

 

 

 

 

 

 

 

Ada

322

0

299

0

114

735

212

-30.20

-1.61

Canyon

214

0

207

0

86

507

134

-6.28

77.89

Kootenai

103

0

81

0

32

216

279

-27.03

145.45

Bonneville

47

0

32

0

11

90

425

-39.60

8.43

Bannock

26

0

34

0

9

69

464

-46.92

115.63

 

 

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