Indiana Foreclosure Activity Higher in Second Quarter

Activity level rises 10 percent from Q1

Foreclosure filings unchanged mid-year; up 11 percent in June

 

Indiana reported 14,574 properties with foreclosure filings for the second quarter of 2010, a 10 percent increase from the first quarter and 5 percent above the level reported in the second quarter of 2009.

 

“Foreclosure activity rose in Indiana during the second quarter of this year to a level above what was reported for the previous quarter and as compared to second quarter 2009,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment remains high at just above 10 percent, signaling that additional foreclosures are likely in coming months.”

 

One in every 192 Indiana housing units received a foreclosure filing during the quarter, giving the state the 17th highest foreclosure rate in the nation.

 

Marion County posts state’s top foreclosure rate and total for the quarter

Marion County posted the highest county foreclosure rate in Indiana during the second quarter, with one in every 87 housing units receiving a foreclosure filing — 2.2 times the state average. Madison County had the second highest foreclosure rate, with one in every 101 housing units receiving a foreclosure filing — 1.9 times the state average. Howard County had the third highest foreclosure rate, with one in every 107 housing units receiving a foreclosure filing — 1.8 times the state average.

 

Marion County also leads state in total foreclosures for the second quarter

Marion County also led the state in foreclosure activity, reporting 4,822 properties with foreclosure filings for the quarter. Lake County had the second highest foreclosure total, reporting 1,261 properties with foreclosure filings. Reporting 707 properties with foreclosure filings for the quarter, Allen County came in third. Madison County was fourth, reporting 590 properties with foreclosure filings. Fifth highest total was Hamilton County, where 573 properties with foreclosure filings were reported for the quarter.

 

State a moderate contributor to nation’s quarterly total

Foreclosure activity in Indiana represented 2 percent of the 895,521 properties with foreclosure filings reported nationwide for the second quarter of 2010. Total U.S. activity fell by almost 4 percent from the previous quarter and was virtually unchanged from the second quarter 2009. One in every 144 U.S. housing units received a foreclosure filing during the quarter.

 

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.

 

Indiana Top Foreclosure Rates By County – Q2 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

102,797

169,209

251,435

102,118

269,962

895,521

144

n/a

n/a

Indiana

0

4,024

0

5,175

5,375

14,574

192

0.75

n/a

 

 

 

 

 

 

 

 

 

 

Marion

0

2,129

0

1,245

1,448

4,822

87

1.66

2.21

Madison

0

173

0

232

185

590

101

1.43

1.90

Howard

0

128

0

165

74

367

107

1.34

1.79

Hancock

0

44

0

111

99

254

110

1.32

1.75

Miami

0

44

0

42

47

133

119

1.21

1.61

 

 

Indiana Top Foreclosure Totals by County – Q2 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q1 2010

% Chg Q2 2009

 

 

 

 

 

 

 

 

 

 

United States

102,797

169,209

251,435

102,118

269,962

895,521

144

-3.94

0.64

Indiana

0

4,024

0

5,175

5,375

14,574

192

10.26

5.08

 

 

 

 

 

 

 

 

 

 

Marion

0

2,129

0

1,245

1,448

4,822

87

5.51

6.45

Lake

0

335

0

447

479

1,261

167

2.52

-8.42

Allen

0

157

0

262

288

707

216

3.21

-20.02

Madison

0

173

0

232

185

590

101

-1.99

-8.10

Hamilton

0

90

0

297

186

573

178

34.19

6.11

 

 

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