Missouri Foreclosure Activity Increases in May

Statewide foreclosure filings rose 6 percent from April; Up 37 percent from May 2009

 

Foreclosure activity in Missouri rose 6 percent in May to 3,841 properties with foreclosure filings and 37 percent from the level reported in May 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

Missouri foreclosures were up in May,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in bank-owned properties, which climbed 24 percent for the month. The state’s unemployment rate is still well above the national average and home sales declined further than most states during the first quarter. This is definitely contributing to the overall rise.”

 

Missouri ranked 23rd in the country in total foreclosures reported for the month. With one in every 694 housing units receiving a foreclosure filing, its foreclosure rate ranked 25th among the 50 states.

 

Jackson County dominates foreclosure rate in May

Jackson County posted the highest foreclosure rate in Missouri for May, with one in every 291 housing units receiving a foreclosure filing — 2.4 times the state average. Saint Louis County came in second, with one in every 389 housing units receiving a foreclosure filing — 1.8 times the state average. Saint Louis City had the third highest foreclosure rate, with one in every 419 housing units receiving a foreclosure filing — 1.7 times the state average. Saint Charles County documented the fourth highest foreclosure rate, with one in every 437 housing units receiving a foreclosure filing — 1.6 times the state average.

 

Saint Louis County tops in foreclosure total for May

Saint Louis County came out on top, reporting 1,122 properties with foreclosure filings for the month. Jackson County followed in second, documenting 1,094 properties with foreclosure filings. Reporting 432 properties with foreclosure filings for the month, Saint Louis City reported the third highest ranking. Saint Charles County was fourth highest, reporting 314 properties with foreclosure filings.

 

State contributes 1 percent to nation’s monthly foreclosure total in May

Missouri accounted for 1 percent of the 322,920 properties with foreclosure filings reported nationwide in May. Total U.S. activity declined by more than 3 percent from the previous month but was on par with the level reported in May 2009. One in every 400 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.

 

Missouri Top Foreclosure Rates By County – May 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

38,389

58,073

94,155

38,526

93,777

322,920

400

n/a

n/a

Missouri

6

0

2,131

0

1,704

3,841

694

0.58

n/a

 

 

 

 

 

 

 

 

 

 

Jackson

0

0

640

0

454

1,094

291

1.37

2.39

Saint Louis

0

0

731

0

391

1,122

389

1.03

1.78

Saint Louis City

0

0

244

0

188

432

419

0.95

1.66

Saint Charles

0

0

193

0

121

314

437

0.91

1.59

Jefferson

0

0

121

0

55

176

497

0.80

1.39

 

Missouri Top Foreclosure Totals by County – May 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Apr 10

% Chg May 09

 

 

 

 

 

 

 

 

 

 

United States

38,389

58,073

94,155

38,526

93,777

322,920

400

-3.27

0.45

Missouri

6

0

2,131

0

1,704

3,841

694

5.67

37.37

 

 

 

 

 

 

 

 

 

 

Saint Louis

0

0

731

0

391

1,122

389

26.92

26.78

Jackson

0

0

640

0

454

1,094

291

-0.64

39.54

Saint Louis City

0

0

244

0

188

432

419

17.39

30.91

Saint Charles

0

0

193

0

121

314

437

35.34

21.24

Greene

1

0

128

0

67

196

629

-4.39

-1.01

 

 

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