Missouri Foreclosure Activity Rose in Second Quarter

Activity level rose 5 percent from Q1

Foreclosure filings increase 5 percent mid-year; down 14 percent in June

 

Missouri reported 9,518 properties with foreclosure filings for the second quarter of 2010, a 5 percent rise from the first quarter and 31 percent above the level reported in the second quarter of 2009.

 

Activity level in Missouri rose during the first half of 2010, but fell for the month of June. For the first six months of the year, Missouri reported 17,242 properties with foreclosure filings, a 5 percent rise in activity from the second half of 2009 and 24 percent above the level reported mid-year 2009. In June the state tallied 3,292 properties with foreclosure filings, a decrease of 14 percent from the previous month, but still up 6 percent from June 2009.

 

“Foreclosure activity in Missouri heated up in the second quarter of 2010 to a level well above what was reported for the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The number of Missouri filings rose across the first half of the year as compared to the second half of 2009, as the state’s unemployment rate hovered just above 9 percent, nearly in line with the national average.”

 

One in every 280 Missouri housing units received a foreclosure filing during the quarter, giving the state the 28th highest foreclosure rate in the nation.

 

Jackson County posts state’s top foreclosure rate for the quarter

Jackson County posted the highest county foreclosure rate in Missouri during the second quarter, with one in every 125 housing units receiving a foreclosure filing — 2.2 times the state average. Saint Louis County posted the second highest foreclosure rate, with one in every 170 housing units receiving a foreclosure filing — 1.7 times the state average. Saint Louis City had the third highest foreclosure rate, with one in every 182 housing units receiving a foreclosure filing.

 

Saint Louis County leads state in total foreclosures for the second quarter

Saint Louis County led Missouri in total foreclosures, reporting 2,572 properties with foreclosure filings for the quarter. Jackson County had the second highest total, reporting 2,537 properties with foreclosure filings. Reporting 996 properties with foreclosure filings for the quarter, Saint Louis City came in third. Saint Charles County was fourth, reporting 708 properties with foreclosure filings. Fifth highest total was Greene County, where 467 properties with foreclosure filings were reported for the quarter.

 

State a moderate contributor to nation’s quarterly total

Foreclosure activity in Missouri represented 1 percent of the 895,521 properties with foreclosure filings reported nationwide for the second quarter of 2010. Total U.S. activity fell by almost 4 percent from the previous quarter and was virtually unchanged from the second quarter 2009. One in every 144 U.S. housing units received a foreclosure filing during the quarter.

 

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 – Q2 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

102,797

169,209

251,435

102,118

269,962

895,521

144

n/a

n/a

Missouri

12

0

4,301

0

5,205

9,518

280

0.51

n/a

 

 

 

 

 

 

 

 

 

 

Jackson

0

0

1,079

0

1,458

2,537

125

1.15

2.23

Saint Louis

0

0

1,535

0

1,037

2,572

170

0.85

1.65

Saint Louis City

0

0

537

0

459

996

182

0.79

1.54

Taney

1

0

14

0

121

136

187

0.77

1.49

Jefferson

0

0

309

0

151

460

190

0.76

1.47

 

 

Missouri Top Foreclosure Totals by County – Q2 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q1 2010

% Chg Q2 2009

 

 

 

 

 

 

 

 

 

 

United States

102,797

169,209

251,435

102,118

269,962

895,521

144

-3.94

0.64

Missouri

12

0

4,301

0

5,205

9,518

280

4.82

30.56

 

 

 

 

 

 

 

 

 

 

Saint Louis

0

0

1,535

0

1,037

2,572

170

10.48

26.45

Jackson

0

0

1,079

0

1,458

2,537

125

-7.14

15.74

Saint Louis City

0

0

537

0

459

996

182

16.08

24.19

Saint Charles

0

0

417

0

291

708

194

8.76

18.79

Greene

3

0

212

0

252

467

264

-12.22

-16.16

 

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved