Indiana Foreclosure Activity Rises in First Quarter

Statewide foreclosure filings increase from last year

March numbers up from a month earlier and from a year ago

 

Foreclosure activity in Indiana rose 12 percent during the first quarter of 2010, and was up 6 percent from the same period last year. In all, the state reported 13,218 properties with foreclosure filings during the quarter.

 

For March, the state reported 5,210 properties with foreclosure filings, a 19 percent increase from the previous month, and 2 percent above the level reported in March 2009. One in every 536 Indiana housing units received a foreclosure filing during the month, giving it the 18th highest state foreclosure rate nationally.

 

“After dropping the previous quarter, foreclosure activity in Indiana rose during the first quarter of 2010,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in default notices, which climbed 29 percent during the quarter. While numbers were up for the quarter and the month of March, they haven’t changed dramatically from this time last year.”

 

Indiana ranked 15th in the country in total foreclosures for the first quarter. With one in every 211 housing units receiving a foreclosure filing, its foreclosure rate ranked 18th among the 50 states.

 

Marion County posts top foreclosure rate for the first quarter

Marion County posted the highest county foreclosure rate in the state during the first quarter, as one in every 92 housing units received a foreclosure filing — 1.5 times the national average and 2.3 times the state average. Madison County came in second, with one in every 99 housing units receiving a foreclosure filing — 1.4 times the national average and 2.1 times the state average. With one in every 121 housing units receiving a foreclosure filing — 1.2 times the national average and 1.8 times the state average — Miami County posted the third highest rate in the state.

 

Marion County led state in total foreclosures for the first quarter

Marion County documented 4,570 properties with foreclosure filings, leading all counties in total foreclosure activity for the quarter. Lake County was second, reporting 1,230 properties with foreclosure filings. Reporting 685 properties with foreclosure filings for the month, Allen County came in third. Madison County was fourth, reporting 602 properties with foreclosure filings, followed by fifth place Elkhart County, where 492 properties with foreclosure filings were reported for the quarter.

 

State a minor contributor to the nation’s quarterly foreclosure total

Indiana accounted for less than 1 percent of the 932,234 properties with foreclosure filings reported nationwide for the first quarter of 2010. Total U.S. activity grew by more than 7 percent from the previous quarter and was 16 percent ahead of the first quarter 2009. One in every 138 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: DefaultNotice 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 – Q1 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every

X HU (rate)

/Natl.

Avg.

/State

Avg.

 

 

 

 

 

 

 

 

 

 

United States

121,367

183,432

267,159

102,332

257,944

932,234

138

n/a

n/a

Indiana

0

4,413

1

4,262

4,542

13,218

211

0.65

n/a

 

 

 

 

 

 

 

 

 

 

Marion

0

2,147

1

1,099

1,323

4,570

92

1.51

2.30

Madison

0

228

0

173

201

602

99

1.40

2.14

Miami

0

41

0

48

42

131

121

1.15

1.75

Howard

0

149

0

80

96

325

121

1.14

1.75

Johnson

0

168

0

161

98

427

131

1.05

1.61

 

 

Indiana Top Foreclosure Totals by County – Q1 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every

X HU (rate)

% Chg

Q4 2009

% Chg

Q1 2009

 

 

 

 

 

 

 

 

 

 

United States

121,367

183,432

267,159

102,332

257,944

932,234

138

7.23

16.02

Indiana

0

4,413

1

4,262

4,542

13,218

211

11.69

6.11

 

 

 

 

 

 

 

 

 

 

Marion

0

2,147

1

1,099

1,323

4,570

92

15.55

8.37

Lake

0

358

0

426

446

1,230

171

19.07

-9.56

Allen

0

274

0

151

260

685

223

-4.33

-28.87

Madison

0

228

0

173

201

602

99

42.65

55.96

Elkhart

0

54

0

209

229

492

158

4.02

14.95

 

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