Louisiana Foreclosure Activity Fell in May

 

Statewide foreclosure filings down 6 percent from April

 

Foreclosure activity in Louisiana fell 6 percent in May to 1,733 properties with foreclosure filings. This latest state total still represents an 84 percent increase from the level reported in May 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Though it remained nearly double the level reported for this time last year, Louisiana’s foreclosure activity slowed in May,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s unemployment rate has been improving and consistently below the national average, but the recent ban on oil drilling has sent yet another crop of workers to the unemployment line.”

 

The state’s foreclosure rate ranked 35th in the nation, as one in every 1,087 Louisiana housing units received a foreclosure filing during the month.

 

Saint Tammany Parish leads state in foreclosure rate for May

Saint Tammany Parish posted the highest foreclosure rate in Louisiana for May, with one in every 329 housing units receiving a foreclosure filing — 3.3 times the state average. Orleans Parish had the second highest foreclosure rate, with one in every 389 housing units receiving a foreclosure filing — 2.8 times the state average. Bossier Parish had the third highest foreclosure rate, with one in every 416 housing units receiving a foreclosure filing — 2.6 times the state average. Livingston Parish documented the fourth highest foreclosure rate, with one in every 541 housing units receiving a foreclosure filing — twice the state average.

 

Saint Tammany and Orleans Parishes top in foreclosure total for May

Saint Tammany and Orleans Parishes led the state in activity, each reporting 294 properties with foreclosure filings for the month. East Baton Rouge Parish had the third highest total, documenting 282 properties with foreclosure filings. Jefferson Parish was fourth highest, reporting 223 properties with foreclosure filings.

 

State a minor contributor to nation’s monthly foreclosure total in May

Louisiana accounted for 1 percent of the 322,920 properties with foreclosure filings reported nationwide in May. Total U.S. activity declined by more than 3 percent from the previous month but was on par with the level reported in May 2009. One in every 400 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: 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.

 

 

Louisiana Top Foreclosure Rates By Parish – May 2010

 

Parish

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

38,389

58,073

94,155

38,526

93,777

322,920

400

n/a

n/a

Louisiana

0

236

0

973

524

1,733

1,087

0.37

n/a

 

 

 

 

 

 

 

 

 

 

Saint Tammany

0

130

0

105

59

294

329

1.21

3.30

Orleans

0

0

0

142

152

294

389

1.03

2.79

Bossier

0

0

0

102

14

116

416

0.96

2.61

Livingston

0

17

0

61

8

86

541

0.74

2.01

Saint Charles

0

18

0

11

4

33

608

0.66

1.79

 

 

Louisiana Top Foreclosure Totals by Parish – May 2010

 

Parish

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Apr 10

% Chg May 09

 

 

 

 

 

 

 

 

 

 

United States

38,389

58,073

94,155

38,526

93,777

322,920

400

-3.27

0.45

Louisiana

0

236

0

973

524

1,733

1,087

-6.27

84.17

 

 

 

 

 

 

 

 

 

 

Orleans

0

0

0

142

152

294

389

19.51

24.05

Saint Tammany

0

130

0

105

59

294

329

-5.16

164.86

East Baton Rouge

0

0

0

218

64

282

668

1.44

45.36

Jefferson

0

1

0

117

105

223

813

-32.22

26.70

Bossier

0

0

0

102

14

116

416

190.00

427.27

 

 

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