Indiana Foreclosure Activity Trends Downward in May

Total foreclosure filings statewide down 1 percent from April

 

Indiana foreclosure activity was down in May to 4,958 properties with foreclosure filings, a 1 percent decrease from the previous month, and less than half a percent behind May 2008, according to RealtyTrac’s® latest U.S. Foreclosure Market Report.  

 

“Although Indiana foreclosures headed downward in May, it still ranks higher than most states,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that while the state’s unemployment rate did fall slightly in April, it is still 1 percent above the national average with more than 130,00 jobs lost during the past year. This is likely a leading factor in Indiana’s foreclosure situation.”

 

Indiana ranked 11th in the country in total foreclosures reported for the month. With one in every 560 housing units receiving a foreclosure filing, its foreclosure rate ranked 13th among the 50 states.

 

Five counties accounted for 65 percent of state’s foreclosure activity for May

Marion County led all counties, reporting 1,851 properties with foreclosure filings for the month. Lake County posted the second highest total, where 584 properties with foreclosure filings were reported. Allen County had the third highest total, reporting 349 properties with foreclosure filings, followed by Elkhart County, where 233 properties with foreclosure filings were tallied. St. Joseph County held the fifth highest total, where 194 properties with foreclosure filings were reported for the month.

 

Marion County posts state’s highest foreclosure rate for May

Marion County posted the highest county foreclosure rate in Indiana, with one in every 226 housing units receiving a foreclosure filing during the month. Madison County had the second highest rate, with one in every 311 housing units receiving a foreclosure filing. Elkhart County posted the third highest rate, where one in every 332 housing units received a foreclosure filing during the month.

 

State contributes 2 percent to nation’s foreclosure activity for May

Foreclosure activity in Indiana represented 2 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.

 

Indiana 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

Indiana

0

1,784

0

2,033

1,141

4,958

560

-1.22

-0.04

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

0

0

 n/a

 n/a

-100.00

Allen

0

140

0

104

105

349

436

-12.75

-31.43

Bartholomew

0

0

0

14

0

14

2,241

-33.33

-17.65

Benton

0

0

0

0

0

0

 n/a

 n/a

 n/a

Blackford

0

0

0

10

7

17

376

 n/a

466.67

Boone

0

0

0

17

12

29

750

11.54

222.22

Brown

0

0

0

0

0

0

 n/a

 n/a

-100.00

Carroll

0

0

0

3

0

3

3,120

-50.00

0.00

Cass

0

0

0

6

0

6

2,873

-78.57

-83.78

Clark

0

0

0

28

1

29

1,637

-35.56

1350.00

Clay

0

0

0

1

1

2

5,824

0.00

100.00

Clinton

0

0

0

0

0

0

 n/a

 n/a

-100.00

Crawford

0

0

0

0

0

0

 n/a

-100.00

-100.00

Daviess

0

1

0

0

0

1

12,327

-80.00

 n/a

De Kalb

0

0

0

1

0

1

17,379

 n/a

0.00

Dearborn

0

1

0

18

0

19

1,054

18.75

11.76

Decatur

0

6

0

4

0

10

1,082

-50.00

-16.67

Delaware

0

49

0

58

3

110

481

57.14

66.67

Dubois

0

7

0

0

0

7

2,399

75.00

 n/a

Elkhart

0

59

0

149

25

233

332

86.40

84.92

Fayette

0

5

0

18

10

33

342

10.00

-13.16

Floyd

0

0

0

37

0

37

850

-5.13

236.36

Fountain

0

5

0

0

1

6

1,316

-25.00

20.00

Franklin

0

6

0

0

0

6

1,554

0.00

 n/a

Fulton

0

4

0

1

0

5

1,926

66.67

-44.44

Gibson

0

7

0

6

3

16

945

6.67

77.78

Grant

0

0

0

0

1

1

31,650

0.00

0.00

Greene

0

0

0

0

0

0

 n/a

 n/a

 n/a

Hamilton

0

38

0

64

69

171

581

-13.64

31.54

Hancock

0

17

0

28

20

65

423

-32.99

4.84

Harrison

0

0

0

3

0

3

4,997

 n/a

 n/a

Hendricks

0

0

0

0

0

0

 n/a

-100.00

-100.00

Henry

0

0

0

0

11

11

1,952

-65.63

-78.85

Howard

0

37

0

4

2

43

916

-55.67

-6.52

Huntington

0

0

0

2

0

2

8,061

 n/a

 n/a

Jackson

0

0

0

0

1

1

18,343

-50.00

-50.00

Jasper

0

0

0

1

4

5

2,591

-50.00

-28.57

Jay

0

0

0

0

0

0

 n/a

 n/a

-100.00

Jefferson

0

0

0

1

1

2

7,128

 n/a

 n/a

Jennings

0

0

0

0

0

0

 n/a

 n/a

 n/a

Johnson

0

56

0

53

42

151

367

-20.94

101.33

Knox

0

0

0

0

0

0

 n/a

 n/a

-100.00

Kosciusko

0

25

0

23

0

48

746

-5.88

77.78

La Porte

0

33

0

0

6

39

1,237

-13.33

-62.50

Lagrange

0

0

0

0

0

0

 n/a

-100.00

-100.00

Lake

0

168

0

236

180

584

358

55.73

-11.65

Lawrence

0

0

0

0

0

0

 n/a

-100.00

-100.00

Madison

0

43

0

120

28

191

311

-42.81

30.82

Marion

0

914

0

577

360

1,851

226

7.93

-5.75

Marshall

0

17

0

15

0

32

604

-15.79

146.15

Martin

0

0

0

0

0

0

 n/a

 n/a

 n/a

Miami

0

5

0

10

19

34

466

-26.09

-5.56

Monroe

0

0

0

16

1

17

3,345

-41.38

41.67

Montgomery

0

20

0

0

9

29

570

31.82

107.14

Morgan

0

10

0

9

5

24

1,195

-67.12

380.00

Newton

0

0

0

4

1

5

1,218

-16.67

0.00

Noble

0

8

0

12

0

20

984

-60.00

33.33

Ohio

0

0

0

0

0

0

 n/a

 n/a

 n/a

Orange

0

0

0

10

3

13

672

18.18

160.00

Owen

0

0

0

1

0

1

10,451

-50.00

 n/a

Parke

0

0

0

1

2

3

2,616

-40.00

50.00

Perry

0

0

0

0

0

0

 n/a

 n/a

 n/a

Pike

0

0

0

0

0

0

 n/a

 n/a

 n/a

Porter

0

1

0

66

22

89

736

28.99

39.06

Posey

0

0

0

0

2

2

5,834

 n/a

 n/a

Pulaski

0

0

0

4

0

4

1,562

100.00

 n/a

Putnam

0

0

0

0

8

8

1,805

-33.33

100.00

Randolph

0

0

0

6

5

11

1,096

-42.11

-68.57

Ripley

0

1

0

7

0

8

1,483

300.00

 n/a

Rush

0

0

0

0

0

0

 n/a

-100.00

-100.00

Scott

0

0

0

9

10

19

570

72.73

0.00

Shelby

0

0

0

1

11

12

1,570

9.09

1100.00

Spencer

0

0

0

0

0

0

 n/a

 n/a

-100.00

St Joseph

0

6

0

147

41

194

587

-3.48

-25.95

Starke

0

0

0

0

0

0

 n/a

-100.00

-100.00

Steuben

0

0

0

12

9

21

915

40.00

-27.59

Sullivan

0

0

0

0

0

0

 n/a

 n/a

 n/a

Switzerland

0

0

0

0

0

0

 n/a

 n/a

-100.00

Tippecanoe

0

52

0

24

1

77

870

-32.46

79.07

Tipton

0

0

0

4

6

10

722

-33.33

-47.37

Union

0

0

0

6

4

10

335

 n/a

100.00

Vanderburgh

0

0

0

33

27

60

1,358

53.85

1400.00

Vermillion

0

0

0

0

0

0

n/a 

 n/a

 n/a

Vigo

0

27

0

22

37

86

550

-2.27

30.30

Wabash

0

7

0

0

1

8

1,804

-20.00

60.00

Warren

0

0

0

0

0

0

 n/a

 n/a

 n/a

Warrick

0

0

0

0

15

15

1,615

114.29

-44.44

Washington

0

0

0

11

8

19

630

46.15

18.75

Wayne

0

0

0

0

1

1

31,076

-97.73

-97.22

Wells

0

0

0

4

0

4

2,913

-60.00

-71.43

White

0

0

0

0

0

0

 n/a

-100.00

-100.00

Whitley

0

9

0

12

0

21

662

16.67

31.25

 

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