Idaho Foreclosure Activity Trends Downward in May

Total foreclosure filings statewide down 42 percent from April

 

Idaho foreclosure activity was down in May to 1,444 properties with foreclosure filings, a 42 percent decrease from the previous month, but still 72 percent above the level reported for May 2008, according to RealtyTrac’s latest U.S. Foreclosure Market Report.

 

“Foreclosure activity declined in Idaho in May, though it remained significantly elevated compared to the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Adding to the state’s heightened foreclosure activity is its mounting level of unemployment, which is now at a 22-year high.”

 

Idaho ranked 29th in the country in total properties with foreclosure filings for May. One in every 437 Idaho housing units received a foreclosure filing during the month, ranking ninth among the 50 states.

 

Ada County tops in foreclosure activity for May

Ada County led the state reporting 747 properties with foreclosure filings for the month. Canyon County posted the second highest total, where 285 properties with foreclosure filings were reported. Kootenai County had the third highest total, reporting 88 properties with foreclosure filings, followed by Bonneville County, where 83 properties with foreclosure filings were tallied.

 

Ada County posts state’s highest foreclosure rate for May

Ada County posted the highest county foreclosure rate in Idaho, with one in every 205 housing units receiving a foreclosure filing during the month. Teton County had the second highest rate, with one in every 219 housing units receiving a foreclosure filing. Canyon County posted the third highest rate, where one in every 233 housing units received a foreclosure filing during the month.

 

State a minor contributor to nation’s foreclosure activity for May

Foreclosure activity in Idaho 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.

 

Report methodology

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.

 

           Idaho Foreclosure Market Data by County – May 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Apr 09

% Chg May 08

 

 

 

 

 

 

 

 

 

 

United States

55,442

67,687

100,578

32,756

65,017

321,480

398

– 6.01

17.76

Idaho

886

0

496

0

62

1,444

437

-41.73

72.32

 

 

 

 

 

 

 

 

 

 

Ada

485

0

237

0

25

747

205

-22.19

185.11

Adams

0

0

0

0

1

1

2,419

0.00

 n/a

Bannock

14

0

17

0

1

32

994

-58.44

-8.57

Bear Lake

0

0

0

0

0

0

 n/a

-100.00

 n/a

Benewah

2

0

0

0

0

2

2,174

-50.00

-60.00

Bingham

7

0

3

0

0

10

1,544

-60.00

25.00

Blaine

6

0

1

0

0

7

2,057

-72.00

-30.00

Boise

0

0

0

0

1

1

5,061

-66.67

 n/a

Bonner

15

0

6

0

3

24

827

-38.46

60.00

Bonneville

39

0

44

0

0

83

448

-7.78

315.00

Boundary

1

0

0

0

0

1

4,629

-75.00

0.00

Butte

0

0

0

0

0

0

 n/a

 n/a

 n/a

Camas

0

0

0

0

0

0

 n/a

 n/a

 n/a

Canyon

173

0

88

0

24

285

233

-59.52

4.01

Caribou

0

0

0

0

0

0

 n/a

 n/a

-100.00

Cassia

0

0

1

0

0

1

8,128

 n/a

 n/a

Clark

0

0

0

0

0

0

 n/a

 n/a

 n/a

Clearwater

0

0

1

0

0

1

4,310

 n/a

 n/a

Custer

0

0

0

0

0

0

 n/a

 n/a

 n/a

Elmore

0

0

1

0

0

1

11,925

-75.00

0.00

Franklin

1

0

2

0

0

3

1,449

-40.00

0.00

Fremont

2

0

0

0

0

2

3,894

0.00

0.00

Gem

0

0

1

0

1

2

3,389

-71.43

 n/a

Gooding

0

0

3

0

0

3

1,990

0.00

0.00

Idaho

0

0

0

0

0

0

 n/a

 n/a

-100.00

Jefferson

6

0

2

0

1

9

870

-62.50

50.00

Jerome

4

0

0

0

0

4

1,837

-80.95

33.33

Kootenai

69

0

19

0

0

88

667

-68.90

-24.14

Latah

0

0

3

0

0

3

5,082

50.00

 n/a

Lemhi

0

0

0

0

0

0

 n/a

 n/a

-100.00

Lewis

0

0

0

0

0

0

 n/a

 n/a

 n/a

Lincoln

0

0

2

0

0

2

901

-60.00

100.00

Madison

3

0

1

0

0

4

2,733

-69.23

300.00

Minidoka

0

0

0

0

0

0

 n/a

-100.00

 n/a

Nez Perce

4

0

1

0

0

5

3,366

-79.17

-44.44

Oneida

0

0

0

0

0

0

 n/a

 n/a

 n/a

Owyhee

0

0

0

0

0

0

 n/a

 n/a

 n/a

Payette

8

0

7

0

1

16

555

-5.88

300.00

Power

0

0

0

0

0

0

 n/a

-100.00

-100.00

Shoshone

3

0

8

0

0

11

655

-47.62

175.00

Teton

8

0

11

0

1

20

219

53.85

900.00

Twin Falls

17

0

17

0

1

35

851

-48.53

6.06

Valley

14

0

9

0

2

25

399

-10.71

78.57

Washington

5

0

11

0

0

16

272

 n/a

 n/a

 

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