Maryland Foreclosure Activity Higher in Second Quarter

Activity level rises 5 percent from Q1

Foreclosure filings decrease 6 percent mid-year; up 7 percent in June

 

Maryland reported 15,637 properties with foreclosure filings for the second quarter of 2010, a 5 percent increase from the first quarter and 68 percent above the level reported in the second quarter of 2009. 

 

Activity level in Maryland fell during the first half of 2010, but rose for the month of June. For the first six months of the year, Maryland reported 28,293 properties with foreclosure filings, a 6 percent drop in activity from the second half of 2009, but still 56 percent above the level reported mid-year 2009. In June the state tallied 6,304 properties with foreclosure filings, an increase of 8 percent from the previous month and up 103 percent from June 2009.

 

“Foreclosure activity rose in Maryland in the second quarter of 2010 to well above the level reported for the same time last year, even though activity improved slightly over the first half of the year compared to the last half of 2009,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment remains a problem within the state, adding to the high number of foreclosure filings as residents hope for a speedier recovery.”

 

One in every 149 Maryland housing units received a foreclosure filing during the quarter, giving the state the 11th highest foreclosure rate in the nation.

 

Prince George’s County posts state’s top foreclosure rate and total for the quarter

Prince George’s County posted the highest county foreclosure rate in Maryland during the second quarter, with one in every 74 housing units receiving a foreclosure filing — twice the state average. Charles County had the second highest foreclosure rate, with one in every 91 housing units receiving a foreclosure filing — 1.6 times the state average. Calvert County had the third highest foreclosure rate, with one in every 111 housing units receiving a foreclosure filing.

 

Prince George’s County also leads state in total foreclosures for the second quarter Prince George’s County also led Maryland in foreclosure activity, reporting 4,322 properties with foreclosure filings for the quarter. Baltimore City had the second highest foreclosure total, reporting 2,262 properties with foreclosure filings. Reporting 1,686 properties with foreclosure filings for the quarter, Baltimore County came in third. Montgomery County was fourth, reporting 1,585 properties with foreclosure filings. Fifth highest total was Anne Arundel County, where 1,109 properties with foreclosure filings were reported for the quarter.

 

State a moderate contributor to nation’s quarterly total

Foreclosure activity in Maryland represented 2 percent of the 895,521 properties with foreclosure filings reported nationwide for the second quarter of 2010. Total U.S. activity fell by almost 4 percent from the previous quarter and was virtually unchanged from the second quarter 2009. One in every 144 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: 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.

 

Maryland Top Foreclosure Rates By County – Q2 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

102,797

169,209

251,435

102,118

269,962

895,521

144

n/a

n/a

Maryland

0

5,621

0

7,276

2,740

15,637

149

0.97

n/a

 

 

 

 

 

 

 

 

 

 

Prince George’s

0

1,640

0

2,090

592

4,322

74

1.94

2.01

Charles

0

218

0

274

95

587

91

1.58

1.64

Calvert

0

99

0

168

27

294

111

1.30

1.34

Frederick

0

291

0

327

154

772

113

1.27

1.32

Baltimore City

0

718

0

1,231

313

2,262

130

1.11

1.15

 

 

Maryland Top Foreclosure Totals by County – Q2 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q1 2010

% Chg Q2 2009

 

 

 

 

 

 

 

 

 

 

United States

102,797

169,209

251,435

102,118

269,962

895,521

144

-3.94

0.64

Maryland

0

5,621

0

7,276

2,740

15,637

149

5.26

67.78

 

 

 

 

 

 

 

 

 

 

Prince George’s

0

1,640

0

2,090

592

4,322

74

13.47

26.26

Baltimore City

0

718

0

1,231

313

2,262

130

-15.12

171.55

Baltimore

0

564

0

870

252

1,686

195

2.06

230.59

Montgomery

0

537

0

452

596

1,585

230

2.66

-3.47

Anne Arundel

0

388

0

522

199

1,109

184

4.03

118.31

 

 

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