Missouri Foreclosure Activity Rises in October

Statewide filings up 2 percent from September

 

Missouri reported 3,218 properties with foreclosure filings, up 2 percent from the previous month, but 12 percent below the level reported in October 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity ticked up slightly in Missouri in October, although it remained well below the level reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The number of default notices reported dropped 75 percent during the month. The state’s unemployment rate also dropped to 9.3 percent during the month. Both are factors that can help slow the pace of foreclosure activity.”

 

One in every 823 Missouri housing units received a foreclosure filing in October, the 30th highest foreclosure rate in the nation.

 

Jackson County tops state in foreclosure rate and activity in October

Jackson County posted the highest county foreclosure rate in the state for October, with one in every 263 housing units receiving a foreclosure filing — 1.5 times the national average and 3.1 times the state average. The county also led the state in foreclosure activity for the month, reporting 1,203 properties with foreclosure filings.

 

With one in every 449 housing units receiving a foreclosure filing — 1.8 times the state average — Taney County had the second highest foreclosure rate in the state. Greene County posted the third highest rate, with one in every 553 housing units receiving a foreclosure filing — 1.5 times the state average. Fourth highest foreclosure rate was in Jefferson County, where one in every 586 housing units received a foreclosure filing during the month — 1.4 times the state average. Saint Louis City County was fifth highest, reporting one in every 603 housing units receiving a foreclosure filing — 1.4 times the state average.

 

Saint Louis County reported the second highest foreclosure total, documenting 719 properties with foreclosure filings. Reporting 298 properties with foreclosure filings for the month, Saint Louis City County was third highest in the state. Greene County came in fourth, reporting 219 properties with foreclosure filings, while the fifth highest total was in Saint Charles County, where 216 properties with foreclosure filings were reported for the month.

 

State a minor contributor to nation’s foreclosure activity in October

Missouri accounted for 1 percent of the 332,292 properties with foreclosure filings reported nationwide in October. Total U.S. activity declined 3 percent from the previous month but was still 19 percent ahead of October 2008. One in every 385 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 – October 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

51,373

72,916

94,850

36,076

77,077

332,292

385

n/a

n/a

Missouri

1

0

2,085

0

1,132

3,218

823

0.47

n/a

 

 

 

 

 

 

 

 

 

 

Jackson

0

0

734

0

469

1,203

263

1.46

3.13

Taney

0

0

0

0

55

55

449

0.86

1.83

Greene

0

0

131

0

88

219

553

0.70

1.49

Jefferson

0

0

130

0

17

147

586

0.66

1.40

Saint Louis City

0

0

241

0

57

298

603

0.64

1.36

 

 

Missouri Top Foreclosure Totals by County – October 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Sept 09

% Chg Oct 08

 

 

 

 

 

 

 

 

 

 

United States

51,373

72,916

94,850

36,076

77,077

332,292

385

-3.30

18.86

Missouri

1

0

2,085

0

1,132

3,218

823

2.03

-12.36

 

 

 

 

 

 

 

 

 

 

Jackson

0

0

734

0

469

1,203

263

28.66

104.24

Saint Louis

0

0

645

0

74

719

605

-0.96

-37.15

Saint Louis City

0

0

241

0

57

298

603

8.76

-15.10

Greene

0

0

131

0

88

219

553

0.92

-4.37

Saint Charles

0

0

195

0

21

216

622

11.34

-2.70

 

 

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