Idaho Foreclosure Activity Rises in April

Statewide filings up 15 percent from March; rate #6 nationally

 

Monthly foreclosure activity in Idaho rose in April, up 15 percent from the previous month to 2,833 properties with foreclosure filings. This latest state total represents a 14 percent year-over-year increase in foreclosure filings from April 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state ranked sixth highest foreclosure rate in the nation with one in every 226 Idaho housing units receiving a foreclosure filing during the month.

 

“Foreclosure activity in Idaho continued to heat up in April, with the state’s number of filings up from last month and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in default notices, up 31 percent from the previous month. However, the state’s unemployment rate has begun to drop, possibly signaling an economic comeback.”

 

Canyon County posts top foreclosure rate for April

With one in every 126 housing units receiving a foreclosure filing — 3.1 times the national average and 1.8 times the state average — Canyon County posted the highest county foreclosure rate in the state for the month. Ada County came in second, with one in every 148 housing units receiving a foreclosure filing — 2.6 times the national average and 1.5 times the state average. Teton County was third, with one in every 175 housing units receiving a foreclosure filing — 2.2 times the national average and 1.3 times the state average.

 

Ada County has top foreclosure total in Idaho for April

Ada County led all counties in the state, reporting 1,053 properties with foreclosure filings for the month. Canyon County was second highest, documenting 541 properties with foreclosure filings. Reporting 296 properties with foreclosure filings for the month, Kootenai County ranked third highest. Bonneville County was fourth, reporting 149 properties with foreclosure filings. A total of 130 properties with foreclosure filings were reported in Bannock County, the fifth highest county total in April.

 

State a minor contributor to nation’s month foreclosure total

Idaho accounted for 1 percent of the 333,837 properties with foreclosure filings reported nationwide in April. Total U.S. activity declined more than 9 percent from the previous month and was 2 percent below the level reported in April 2009. One in every 387 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 – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

n/a

n/a

Idaho

1,310

6

1,186

0

331

2,833

226

1.71

n/a

 

 

 

 

 

 

 

 

 

 

Canyon

307

3

160

0

71

541

126

3.08

1.80

Ada

396

1

536

0

120

1,053

148

2.61

1.53

Teton

9

0

12

0

7

28

175

2.21

1.29

Kootenai

170

2

102

0

22

296

203

1.90

1.11

Blaine

26

0

31

0

5

62

234

1.65

0.97

 

 

Idaho Top Foreclosure Totals by County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 10

% Chg Apr 09

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

-9.05

-2.40

Idaho

1,310

6

1,186

0

331

2,833

226

14.56

14.33

 

 

 

 

 

 

 

 

 

 

Ada

396

1

536

0

120

1,053

148

3.34

9.69

Canyon

307

3

160

0

71

541

126

-12.18

-23.15

Kootenai

170

2

102

0

22

296

203

37.04

4.59

Bonneville

81

0

55

0

13

149

257

175.93

65.56

Bannock

67

0

50

0

13

130

246

113.11

68.83

 

 

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