Maryland Foreclosure Activity Rises in July

Statewide foreclosure filings up 10 percent from June

 

Foreclosure activity in Maryland increased 10 percent in July to 6,961 properties with foreclosure filings, 35 percent above the level reported in July 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Maryland foreclosure activity heated up in July, with a major hike in filings compared to June and to July of last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state, which was the tenth most affected in terms of foreclosure activity for the month, recently experienced an improvement in its job market, with unemployment falling to 7.1 percent. However, losses are still being reported in both education and health services, traditionally the state’s two largest growth industries.”

 

California continues to lead the nation, reporting 69,114 properties with foreclosure filings. Florida posted the second highest foreclosure total in the nation in July, tallying 51,557 properties with foreclosure filings. Illinois moved up a notch to third highest total, reporting 19,602 properties with foreclosure filings for the month. Reporting 18,833 properties with foreclosure filings, Michigan fell one spot to fourth place. Arizona maintained the fifth highest total, reporting 16,298 properties with foreclosure filings for the month.

 

The remaining states in the nation’s top 10 for total foreclosure activity in July were Nevada (13,727), Ohio (13,511), Georgia (12,577) and Texas (11,727). In all, the top five accounted for 53 percent of all foreclosure filings in the nation for July.

 

The state reported the tenth highest state foreclosure rate, as one in every 335 Maryland housing units received a foreclosure filing during the month.

 

Prince George’s County posts state’s top county foreclosure rate July

Prince George’s County posted the top foreclosure rate in Maryland for the month, with one in every 153 housing units receiving a foreclosure filing in July. Charles County posted the second highest foreclosure rate, with one in every 186 housing units receiving a foreclosure filing during the month. Coming in third was Frederick County, where one in every 239 housing units received a foreclosure filing in July.

 

Prince George’s County also had top foreclosure total for July

Prince George’s County also posted to Maryland’s top foreclosure total, reporting 2,103 properties with foreclosure filings for the month. Baltimore City County documented the second highest foreclosure total, reporting 864 properties with foreclosure filings. Montgomery County came in third highest, tallying 795 properties with foreclosure filings. Fourth highest was Baltimore County, where 590 properties with foreclosure filings were reported. Anne Arundel County was fifth, reporting 489 properties with foreclosure filings for the month.

 

State a moderate contributor to nation’s monthly foreclosure total

Maryland accounted for 2 percent of the 325,229 properties with foreclosure filings reported nationwide in July. Total U.S. activity increased by more than 3 percent from the previous month but was down almost 10 percent from the level reported in July 2009. One in every 397 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.

 

 

Maryland Top Foreclosure Rates by County – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

n/a

n/a

Maryland

0

2,941

0

2,968

1,052

6,961

335

1.18

n/a

 

 

 

 

 

 

 

 

 

 

Prince George’s

0

989

0

840

274

2,103

153

2.60

2.19

Charles

0

122

0

129

37

288

186

2.14

1.81

Frederick

0

159

0

139

67

365

239

1.66

1.40

Calvert

0

72

0

58

6

136

240

1.65

1.40

Caroline

0

22

0

22

5

49

278

1.43

1.21

 

 

Maryland Top Foreclosure Totals by County – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

3.63

-9.70

Maryland

0

2,941

0

2,968

1,052

6,961

335

10.42

35.11

 

 

 

 

 

 

 

 

 

 

Prince George’s

0

989

0

840

274

2,103

153

18.35

14.48

Baltimore City

0

281

0

455

128

864

341

1.77

95.03

Montgomery

0

348

0

272

175

795

459

37.31

-14.61

Baltimore

0

182

0

302

106

590

556

-18.17

63.43

Anne Arundel

0

178

0

246

65

489

418

1.24

262.22

 

 

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