Missouri Enjoys a Drop in Foreclosures in August

Foreclosure activity in Missouri fell 21 percent in August to 2,498 properties with foreclosure filings, down 33 percent from the level reported in August 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity dropped significantly in Missouri in August as unemployment held steady at 9.6 percent,” said James J. Saccacio, chief executive officer of RealtyTrac. “While this decrease in foreclosures is certainly good news among Missourians, the high rate of joblessness within the Show Me State is a definite cause for concern that increasingly more foreclosures could follow in the coming months.”

 

One in every 1,060 Missouri housing units received a foreclosure filing in August, the 31st highest foreclosure rate in the nation.

 

Cass County posts state’s top foreclosure rate in August

Cass County posted the highest county foreclosure rate in the state for August, with one in every 441 housing units receiving a foreclosure filing — 2.4 times the state average. Jackson County had the second highest foreclosure rate, with one in every 502 housing units receiving a foreclosure filing during the month — 2.1 times the state average. Greene County  posted the third highest rate, where one in every 597 housing units received a foreclosure filing — 1.8 times the state average.

 

Saint Louis County leads the state in foreclosure totals for August

Saint Louis County tallied the highest activity level, tallying 680 properties with foreclosure filings for the month. Jackson County had the second highest total of foreclosure filings, documenting 630 properties with foreclosure filings. Reporting 295 properties with foreclosure filings for the month, Saint Louis City County reported the third highest total in the state. Saint Charles County was fourth highest, reporting 223 properties with foreclosure filings, while the fifth highest total was in Greene County, where 203 properties with foreclosure filings were reported for the month.

 

State a minor contributor to the nation’s foreclosure activity in August

Missouri accounted for less than 1 percent of the 358,471 properties with foreclosure filings reported nationwide in August. Total U.S. activity declined fractionally from the previous month but was still 18 percent ahead of August 2008. One in every 357 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.

 

 

Missouri Top Foreclosure Rates By County – August 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

62,070

76,154

105,850

38,263

76,134

358,471

357

n/a

n/a

Missouri

32

0

1,667

0

799

2,498

1,060

0.34

n/a

 

 

 

 

 

 

 

 

 

 

Cass

0

0

1

0

87

88

441

0.81

2.40

Jackson

4

0

278

0

348

630

502

0.71

2.11

Greene

13

0

125

0

65

203

597

0.60

1.78

Saint Charles

0

0

217

0

6

223

603

0.59

1.76

Saint Louis City

0

0

275

0

20

295

609

0.59

1.74

 

 

Missouri Top Foreclosure Totals by County – August 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg July 09

% Chg Aug 08

 

 

 

 

 

 

 

 

 

 

United States

62,070

76,154

105,850

38,263

76,134

358,471

357

6.74

32.32

Missouri

32

0

1,667

0

799

2,498

1,060

-21.32

-33.48

 

 

 

 

 

 

 

 

 

 

Saint Louis

4

0

647

0

29

680

640

-11.57

-40.25

Jackson

4

0

278

0

348

630

502

-44.79

-35.19

Saint Louis City

0

0

275

0

20

295

609

-10.88

-33.26

Saint Charles

0

0

217

0

6

223

603

17.37

0.00

Greene

13

0

125

0

65

203

597

-5.14

11.54

 

 

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