Kentucky Foreclosure Activity Falls in April

Statewide filings down 14 percent from March; up 29 percent from year ago

 

Monthly foreclosure activity in Kentucky fell 14 percent from the previous month to 1,148 properties with foreclosure filings. However, this latest state total still represents a 29 percent year-over-year increase in foreclosure filings from April 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity fell in Kentucky during April but was still ahead of the level reported this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decrease was in default notices, which dropped 53 percent for the month. That, along with home sales, which spiked higher than the national average during the fourth quarter of last year, are major contributing factors to the recent decline in overall foreclosure activity.”

 

Kentucky ranked 34th in the country in total foreclosures for the month. With one in every 1,673 housing units receiving a foreclosure filing, its foreclosure rate ranked 40th among the 50 states.

 

Campbell County posts top foreclosure rate for April

With one in every 509 housing units receiving a foreclosure filing — 3.3 times the state average — Campbell County posted the highest county foreclosure rate in the state for the month. Boone County came in second, with one in every 549 housing units receiving a foreclosure filing — 3.1 times the state average. Jefferson County was third, with one in every 577 housing units receiving a foreclosure filing — 2.9 times the national average.

 

Highest foreclosure total in Jefferson County for April

Jefferson County led all counties in the state, reporting 575 properties with foreclosure filings for the month. Kenton County came in second highest, documenting 89 properties with foreclosure filings. Reporting 82 properties with foreclosure filings for the month, Boone County was a close third. Campbell County was fourth, reporting 77 properties with foreclosure filings, while Fayette County came in fifth, reporting 75 properties with foreclosure filings.

 

State a minor contributor to nation’s monthly foreclosure total

Kentucky accounted for less than 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: 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.

 

 

Kentucky 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

Kentucky

0

231

0

487

430

1,148

1,673

0.23

n/a

 

 

 

 

 

 

 

 

 

 

Campbell

0

72

0

0

5

77

509

0.76

3.28

Boone

0

0

0

52

30

82

549

0.70

3.05

Jefferson

0

84

0

293

198

575

577

0.67

2.90

Pendleton

0

8

0

0

1

9

665

0.55

2.39

Grant

0

0

0

3

12

15

701

0.55

2.39

 

 

 

Kentucky Top Foreclosure Totals by County – April 2010

 

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every

X HU (rate)

% Chg

Jan 10

% Chg

Feb 09

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

-9.05

-2.40

Kentucky

0

231

0

487

430

1,148

1,673

-14.58

28.84

 

 

 

 

 

 

 

 

 

 

Jefferson

0

84

0

293

198

575

577

-23.44

-10.30

Kenton

0

0

0

35

54

89

796

-9.18

8.54

Boone

0

0

0

52

30

82

549

82.22

2,633.33

Campbell

0

72

0

0

5

77

509

5.48

266.67

Fayette

0

0

0

48

27

75

1,775

-26.47

-2.60

 

 

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