Louisiana Foreclosure Activity Trends Downward in May

Total foreclosure filings statewide down 16 percent from April

 

Louisiana foreclosure activity was down for the month of May to 941 properties with foreclosure filings, a 16 percent decrease from the previous month, but still 34 percent ahead of May 2008, according to RealtyTrac’s latest U.S. Foreclosure Market Report.

 

“Foreclosure activity declined in Louisiana in May, though it remained well above the level reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Adding to an increase in foreclosures is the state’s heightened unemployment rate, which rose in May to 6.2 percent, though it remained below the national average of 9.4 percent.”

 

Louisiana ranked 32nd in the country in total properties with foreclosure filings for May. One in every 1,976 Louisiana housing units received a foreclosure filing during the month, ranking 40th among the 50 states.

 

Orleans Parish tops in foreclosure activity for May

Orleans Parish led the state reporting 237 properties with foreclosure filings for the month. East Baton Rouge Parish posted the second highest total, where 194 properties with foreclosure filings were reported. Jefferson Parish had the third highest total, reporting 176 properties with foreclosure filings, followed by Saint Tammany Parish, where 111 properties with foreclosure filings were tallied.

 

Orleans Parish posts state’s highest foreclosure rate for May

Orleans Parish posted the highest county foreclosure rate in Louisiana, with one in every 472 housing units receiving a foreclosure filing during the month. Saint Tammany Parish had the second highest rate, with one in every 851 housing units receiving a foreclosure filing. East Baton Rouge Parish posted the third highest rate, where one in every 955 housing units received a foreclosure filing during the month.

 

State a minor contributor to nation’s foreclosure activity for May

Foreclosure activity in Louisiana represented less than 1 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.

 

        Louisiana Foreclosure Market Data by Parish – May 2009

 

Parish

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

Louisiana

0

4

0

748

189

941

1,976

-16.36

34.24

 

 

 

 

 

 

 

 

 

 

Acadia

0

0

0

0

0

0

n/a

-100.00

n/a

Allen

0

0

0

0

0

0

n/a

n/a

n/a

Ascension

0

0

0

19

0

19

2,027

850.00

n/a

Assumption

0

0

0

0

0

0

n/a

n/a

n/a

Avoyelles

0

0

0

0

0

0

n/a

-100.00

-100.00

Beauregard

0

0

0

0

1

1

15,291

n/a

n/a

Bienville

0

0

0

0

0

0

n/a

n/a

n/a

Bossier

0

0

0

7

15

22

2,155

15.79

-8.33

Caddo

0

0

0

56

8

64

1,768

33.33

128.57

Calcasieu

0

0

0

0

1

1

81,832

-50.00

n/a

Caldwell

0

0

0

2

0

2

2,611

n/a

n/a

Cameron

0

0

0

0

0

0

n/a

n/a

n/a

Catahoula

0

0

0

0

0

0

n/a

n/a

n/a

Claiborne

0

0

0

0

0

0

n/a

n/a

n/a

Concordia

0

0

0

0

0

0

n/a

n/a

n/a

De Soto

0

0

0

0

0

0

n/a

n/a

n/a

East Baton Rouge

0

0

0

169

25

194

955

-39.18

240.35

East Carroll

0

0

0

0

0

0

n/a

n/a

n/a

East Feliciana

0

0

0

0

0

0

n/a

-100.00

n/a

Evangeline

0

0

0

0

0

0

n/a

n/a

n/a

Franklin

0

0

0

0

0

0

n/a

-100.00

-100.00

Grant

0

0

0

0

0

0

n/a

-100.00

n/a

Iberia

0

0

0

0

0

0

n/a

-100.00

n/a

Iberville

0

0

0

0

0

0

n/a

n/a

-100.00

Jackson

0

0

0

0

0

0

n/a

n/a

n/a

Jefferson

0

0

0

131

45

176

1,027

15.03

-3.30

Jefferson Davis

0

0

0

0

0

0

n/a

-100.00

n/a

La Salle

0

0

0

0

0

0

n/a

n/a

n/a

Lafayette

0

0

0

29

7

36

2,464

16.13

89.47

Lafourche

0

0

0

4

0

4

9,431

n/a

300.00

Lincoln

0

0

0

0

0

0

n/a

n/a

-100.00

Livingston

0

4

0

0

6

10

4,491

100.00

n/a

Madison

0

0

0

0

0

0

n/a

n/a

n/a

Morehouse

0

0

0

0

0

0

n/a

n/a

n/a

Natchitoches

0

0

0

1

0

1

18,173

n/a

-50.00

Orleans

0

0

0

193

44

237

472

-23.30

-4.44

Ouachita

0

0

0

9

0

9

7,100

-47.06

80.00

Plaquemines

0

0

0

0

0

0

n/a

n/a

n/a

Pointe Coupee

0

0

0

0

0

0

n/a

n/a

n/a

Rapides

0

0

0

17

6

23

2,440

109.09

21.05

Red River

0

0

0

0

0

0

n/a

n/a

n/a

Richland

0

0

0

0

0

0

n/a

n/a

n/a

Sabine

0

0

0

0

0

0

n/a

n/a

n/a

Saint Bernard

0

0

0

0

0

0

n/a

n/a

-100.00

Saint Charles

0

0

0

1

0

1

19,928

0.00

0.00

Saint Helena

0

0

0

0

0

0

n/a

n/a

n/a

Saint James

0

0

0

0

0

0

n/a

n/a

n/a

Saint Landry

0

0

0

8

0

8

4,832

166.67

700.00

Saint Martin

0

0

0

1

0

1

21,957

0.00

n/a

Saint Mary

0

0

0

3

0

3

7,527

n/a

n/a

Saint Tammany

0

0

0

87

24

111

851

-7.50

16.84

St John The Baptist

0

0

0

1

0

1

17,480

n/a

0.00

Tangipahoa

0

0

0

0

7

7

7,078

-50.00

16.67

Tensas

0

0

0

0

0

0

n/a

n/a

n/a

Terrebonne

0

0

0

8

0

8

5,499

-27.27

100.00

Union

0

0

0

0

0

0

n/a

-100.00

n/a

Vermilion

0

0

0

0

0

0

n/a

n/a

n/a

Vernon

0

0

0

0

0

0

n/a

n/a

n/a

Washington

0

0

0

2

0

2

10,200

-50.00

n/a

Webster

0

0

0

0

0

0

n/a

-100.00

n/a

West Baton Rouge

0

0

0

0

0

0

n/a

n/a

-100.00

West Carroll

0

0

0

0

0

0

n/a

n/a

n/a

West Feliciana

0

0

0

0

0

0

n/a

n/a

n/a

Winn

0

0

0

0

0

0

n/a

n/a

n/a

 

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