Missouri Foreclosure Activity Up in Third Quarter

Total foreclosure filings up 8 percent from Q2, Down 11 percent from Q3 2008.

 

Missouri reported 7,892 properties with foreclosure filings in the third quarter of 2009, an increase of 8 percent from the previous quarter but 11 percent below the level reported in the third quarter of 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

Missouri foreclosures were up during the third quarter,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in default notices, which were eight times higher than the previous quarter. However, the state’s unemployment rate is still below the national average, and foreclosures are lower than they were this time last year.”

 

Missouri ranked 25th in the country in total foreclosures reported for the third quarter. With one in every 335 housing units receiving a foreclosure filing, its foreclosure rate ranked 30th among the 50 states.

 

Foreclosure activity in the Show Me State was up 26 percent in September from the previous month to 3,154 properties with foreclosure filings, and elevated on a yearly basis, up 9 percent from September 2008. The state’s foreclosure rate was 29th highest in the nation for the month — with one in every 839 housing units receiving a foreclosure filing.

 

Jackson County posts state’s top foreclosure rate in the third quarter

Jackson County posted the highest county foreclosure rate in the state for the third quarter, with one in every 135 housing units receiving a foreclosure filing — 2.5 times the state average. Cass County was second, with one in every 204 housing units receiving a foreclosure filing during the quarter — 1.6 times the state average. Saint Louis County posted the third highest foreclosure rate, where one in every 223 housing units received a foreclosure filing — 1.5 times the state average.

 

Five counties accounted for 78 percent of foreclosure activity in the third quarter

Jackson County led the way, tallying 2,338 properties with foreclosure filings for the quarter. Saint Louis County came in second highest, reporting 1,948 properties with foreclosure filings. Saint Louis City came in third, tallying 795 properties with foreclosure filings. Saint Charles County posted the fourth highest foreclosure activity for the quarter, reporting 556 properties with foreclosure filings. Greene County documented 528 properties with foreclosure filings, the state’s fifth highest foreclosure total in the quarter.

 

State contributes 1 percent to nation’s foreclosure activity for quarter and month

Missouri accounted for 1 percent of the 937,840 properties with foreclosure filings reported nationwide for the third quarter and 1 percent of the 343,638 properties with foreclosure filings reported for September. Total U.S. activity declined 5.4 percent between the second and third quarter of the year, but was up 23 percent from the third quarter of 2008. One in every 136 U.S. housing units received a foreclosure filing during the quarter, the highest quarterly foreclosure rate since RealtyTrac began issuing its report in 2005.

 

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 – Q3 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

153,255

188,986

263,957

94,590

237,052

937,840

136

n/a

n/a

Missouri

24

0

4,470

0

3,398

7,892

335.44

0.41

n/a

 

 

 

 

 

 

 

 

 

 

Jackson

5

0

1,126

0

1,207

2,338

135

1.01

2.48

Cass

1

0

1

0

188

190

204

0.67

1.64

Saint Louis

4

0

1,658

0

286

1,948

223

0.61

1.50

Saint Louis City

0

0

617

0

178

795

226

0.60

1.48

Greene

6

0

280

0

242

528

230

0.59

1.46

 

 

Missouri Top Foreclosure Totals by County – Q3 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q2 09

% Chg Q3 08

 

 

 

 

 

 

 

 

 

 

United States

153,255

188,986

263,957

94,590

237,052

937,840

136

5.40

22.50

Missouri

24

0

4,470

0

3,398

7,892

335.44

8.26

-11.17

 

 

 

 

 

 

 

 

 

 

Jackson

5

0

1,126

0

1,207

2,338

135

6.66

15.12

Saint Louis

4

0

1,658

0

286

1,948

223

-4.23

-24.26

Saint Louis City

0

0

617

0

178

795

226

-0.87

-28.44

Saint Charles

0

0

496

0

60

556

242

-6.71

7.54

Greene

6

0

280

0

242

528

230

-5.21

-2.76

 

 

Missouri Top Foreclosure Rates by County – Sept 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

56,979

65,186

97,925

35,727

87,821

343,638

372

n/a

n/a

Missouri

4

0

1,763

0

1,387

3,154

839

0.44

n/a

 

 

 

 

 

 

 

 

 

 

Jackson

1

0

647

0

287

935

338

1.10

2.48

Polk

0

0

1

0

24

25

484

0.77

1.73

Greene

0

0

123

0

94

217

558

0.67

1.50

Saint Louis

0

0

574

0

152

726

599

0.62

1.40

Saint Louis City

0

0

184

0

90

274

656

-7.12

-19.65

 

 

Missouri Top Foreclosure Totals by County – Sept 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Aug 09

% Chg Sept 08

 

 

 

 

 

 

 

 

 

 

United States

56,979

65,186

97,925

35,727

87,821

343,638

372

-4.14

29.20

Missouri

4

0

1,763

0

1,387

3,154

839

26.26

8.76

 

 

 

 

 

 

 

 

 

 

Jackson

1

0

647

0

287

935

338

48.41

81.55

Saint Louis

0

0

574

0

152

726

599

6.76

-7.98

Saint Louis City

0

0

184

0

90

274

656

-7.12

-19.65

Greene

0

0

123

0

94

217

558

6.90

8.50

Saint Charles

0

0

158

0

36

194

693

-13.00

39.57

 

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