Maryland Foreclosure Activity Up 34 Percent in 2009

Activity up 129 percent from 2007 and 6 percent from November

 

Maryland ended 2009 tallying 43,248 properties with foreclosure filings, a 34 percent increase from the total reported for 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The yearly total is 129 percent higher than the level reported for all of 2007.

 

Maryland reported 6,768 properties with foreclosure filings, a 6 percent increase over the previous month, and up 52 percent from December 2008. The state’s foreclosure rate — one in every 343 housing units received a foreclosure filing — was 11th highest in the nation for the month.

 

“Maryland’s foreclosure activity continued to rise between November and December, ending the year with more foreclosures than was reported in each of the past two years,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment within the state remains below the national average, though the period of time residents remained jobless in 2009 was longer than what was common in previous years.”

 

With one in every 54 housing units receiving a foreclosure filing, Maryland’s foreclosure rate ranked 13th highest in the nation for the year.

 

Prince George’s County posts state’s highest foreclosure rate for 2009

Prince George’s County posted the highest county foreclosure rate in the state for the year, with one in every 24 housing units receiving a foreclosure filing in 2009. Charles County had the second highest foreclosure rate, reporting one in every 35 housing units receiving a foreclosure filing. Frederick County came in third highest, reporting one in every 37 housing units receiving a foreclosure filing. Calvert County was fourth highest with one in every 48 housing units receiving a foreclosure filing. Montgomery County had the fifth highest rate, where one in every 55 housing units receiving a foreclosure filing.

 

Prince George’s County also led state in foreclosure activity in 2009

Prince George’s County also posted the highest total with 13,412 properties, with foreclosure filings. Montgomery County had the second highest total, documenting 6,614 properties with foreclosure filings. Baltimore City County had the third highest total in the state, Reporting 5,067 properties with foreclosure filings for the year. Baltimore County was fourth highest, reporting 3,459 properties with foreclosure filings, followed by Anne Arundel County in fifth place, tallying 2,765 properties with foreclosure filings for all of 2009.

 

State a moderate contributor to nation’s foreclosure total in 2009

Maryland accounted for 2 percent of the 2,824,674 properties with foreclosure filings reported nationwide in 2009. Total U.S. activity increased more than 21 percent over the level reported for all of 2008. One in every 45 U.S. housing units received a foreclosure filing during the year.

 

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: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

%Chg

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Maryland

43,248

1.87

54

33.74

129.08

 

 

 

 

 

 

Prince George’s County

13,412

4.19

24

34.51

177.97

Charles

1,505

2.86

35

45.27

87.19

Frederick

2,305

2.68

37

59.30

233.09

Calvert

679

2.10

48

53.62

94.00

Montgomery

6,614

1.83

55

42.21

183.62

 

 

Maryland Top Foreclosure Totals by County: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

% Chg  

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Maryland

43,248

1.87

54

33.74

129.08

 

 

 

 

 

 

Prince George’s County

13,412

4.19

24

34.51

177.97

Montgomery

6,614

1.83

55

42.21

183.62

Baltimore City

5,067

1.72

58

13.33

80.77

Baltimore

3,459

1.06

95

23.36

60.81

Anne Arundel

2,765

1.36

73

33.00

87.20

 

 

Maryland Top Foreclosure Rates By County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl Avg

/State Avg

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

n/a

n/a

Maryland

0

3,453

0

2,392

923

6,768

343

1.07

n/a

 

 

 

 

 

 

 

 

 

 

Prince George’s County

0

1,013

0

833

262

2,108

152

2.41

2.26

Frederick

0

250

0

52

80

382

226

1.62

1.52

Calvert

0

60

0

72

8

140

231

1.58

1.48

Washington

0

176

0

32

42

250

242

1.51

1.42

Charles

0

70

0

115

20

205

257

1.43

1.34

 

 

Maryland Top Foreclosure Totals by County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Nov 09

% Chg Dec 08

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

13.99

15.20

Maryland

0

3,453

0

2,392

923

6,768

343

6.25

52.47

 

 

 

 

 

 

 

 

 

 

Prince George’s County

0

1,013

0

833

262

2,108

16

0.91

21.08

Baltimore City

0

410

0

411

127

948

214

13.94

77.86

Montgomery

0

312

0

189

116

617

531

-35.19

-0.16

Baltimore

0

313

0

227

62

602

490

-13.63

70.54

Anne Arundel

0

267

0

137

65

469

69

80.38

101.29

 

 

 

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