Missouri Foreclosure Activity Speeds Up in July

Statewide foreclosure filings up 16 percent from June

 

Foreclosure activity in Missouri increased 16 percent in July to 3,813 properties with foreclosure filings, 20 percent above the level reported in July 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

Missouri foreclosures were up in July,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in default notices, which climbed 67 percent during the month. The state’s home sales declined slightly more than the national average during the first quarter. This has likely contributed to the recent rise.”

 

Missouri ranked 23rd in the country in total foreclosures reported for the month. With one in every 699 housing units receiving a foreclosure filing, its foreclosure rate ranked 26th among the 50 states.

 

Jackson County posts top county foreclosure rate in July

Jackson County posted the top foreclosure rate in Missouri for the month, with one in every 281 housing units receiving a foreclosure filing in July. Saint Louis County posted the second highest foreclosure rate, with one in every 414 housing units receiving a foreclosure filing during the month. Coming in third was Saint Louis City, where one in every 466 housing units received a foreclosure filing in July.

 

Jackson County dominates state with top foreclosure total for July

Jackson County also led Missouri in total foreclosure activity, reporting 1,131 properties with foreclosure filings in July. Saint Louis County documented the second highest foreclosure total, reporting 1,052 properties with foreclosure filings. Saint Louis City came in third highest, tallying 388 properties with foreclosure filings. Fourth highest was Saint Charles County, where 279 properties with foreclosure filings were reported. Greene County was fifth, reporting 235 properties with foreclosure filings for the month.

 

State contributes 1 percent to nation’s monthly foreclosure total

Missouri accounted for 1 percent of the 325,229 properties with foreclosure filings reported nationwide in July. Total U.S. activity increased by more than 3 percent from the previous month but was down almost 10 percent from the level reported in July 2009. One in every 397 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 – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

n/a

n/a

Missouri

5

0

1,893

0

1,915

3,813

699

0.57

n/a

 

 

 

 

 

 

 

 

 

 

Jackson

0

0

495

0

636

1,131

281

1.41

2.48

Saint Louis

0

0

687

0

365

1,052

414

0.96

1.69

Saint Louis City

0

0

229

0

159

388

466

0.85

1.50

Jefferson

0

0

123

0

59

182

481

0.83

1.45

Saint Charles

0

0

178

0

101

279

492

0.81

1.42

 

 

Missouri Top Foreclosure Totals by County – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

3.63

-9.70

Missouri

5

0

1,893

0

1,915

3,813

699

15.83

20.09

 

 

 

 

 

 

 

 

 

 

Jackson

0

0

495

0

636

1,131

281

34.80

-0.88

Saint Louis

0

0

687

0

365

1,052

414

9.81

36.80

Saint Louis City

0

0

229

0

159

388

466

21.25

17.22

Saint Charles

0

0

178

0

101

279

492

11.16

46.84

Greene

2

0

159

0

74

235

525

45.96

9.81

 

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