Missouri Foreclosure Activity Rises in February

Statewide filings increase 2 percent from January

 

Foreclosure activity in Missouri rose in February to 3,014 properties with foreclosure filings, up 2 percent from the previous month, but still 4 percent below the level reported in February 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Missouri reported a slight increase in foreclosure filings in February, though activity remained below the level reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “While unemployment within the state remains high at 9.4 percent, it has consistently fallen below the national level month-after-month for the past year and is holding relatively steady.”

 

One in every 884 Missouri housing units received a foreclosure filing in February, the 30th highest rate in the nation.

 

Jackson County posts state’s top foreclosure rate and total for February

Jackson County posted the state’s highest county foreclosure rate in February, with one in every 322 housing units receiving a foreclosure filing — 2.8 times the state average. Saint Louis County had the second highest rate, with one in every 612 housing units receiving a foreclosure filing — 1.4 times the state average. Jefferson County came in third highest, with one in every 621 housing units receiving a foreclosure filing — 1.4 times the state average.

 

Jackson County led the state in total foreclosures in February

Jackson County also had the highest total in the state, reporting 988 properties with foreclosure filings. Saint Louis County had the second highest total, documenting 712 properties with foreclosure filings. Saint Louis City County ranked third highest, reporting 288 properties with foreclosure filings for the month. Saint Charles County came in fourth place, reporting 204 properties with foreclosure filings, while the fifth highest total was in Greene County, where 159 properties with foreclosure filings were reported for the month.

 

State a moderate contributor to nation’s month foreclosure total

Missouri accounted for 1 percent of the 308,524 properties with foreclosure filings reported nationwide in February. Total U.S. activity declined more than 2 percent from the previous month but was still 6 percent ahead of February 2009. One in every 418 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 – February 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

46,207

60,001

84,641

38,992

78,683

308,524

418

n/a

n/a

Missouri

6

0

1,690

0

1,318

3,014

884

0.47

n/a

 

 

 

 

 

 

 

 

 

 

Jackson

0

0

566

0

422

988

322

1.30

2.75

Saint Louis

0

0

531

0

181

712

612

0.68

1.44

Jefferson

0

0

127

0

14

141

621

0.67

1.42

Saint Louis City

0

0

191

0

97

288

628

0.67

1.41

Clay

3

0

2

0

125

130

657

0.64

1.35

 

 

Missouri Top Foreclosure Totals by County – February 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Jan 10

% Chg Feb 09

 

 

 

 

 

 

 

 

 

 

United States

46,207

60,001

84,641

38,992

78,683

308,524

418

-2.28

6.22

Missouri

6

0

1,690

0

1,318

3,014

884

2.34

-3.68

 

 

 

 

 

 

 

 

 

 

Jackson

0

0

566

0

422

988

322

2.70

55.35

Saint Louis

0

0

531

0

181

712

612

-2.73

-32.70

Saint Louis City

0

0

191

0

97

288

628

14.74

-34.55

Saint Charles

0

0

154

0

50

204

672

0.49

-8.11

Greene

2

0

97

0

60

159

776

-17.62

-36.90

 

 

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