Montana Foreclosure Activity Trends Downward in May

Statewide foreclosure filings down 39 percent from April

 

Montana foreclosure activity fell in May to 37 properties with foreclosure filings, a 39 percent decrease from the previous month and 73 percent below the level reported in May 2008, according to RealtyTrac’s latest U.S. Foreclosure Market Report.

 

“Foreclosure activity decreased significantly in Montana in May following an April dip in unemployment within the state,” said James J. Saccacio, chief executive officer of RealtyTrac. “With unemployment back up to 6.3 percent in May and expected to continue inching upward, the recent lull in foreclosures may be short lived.”

 

Montana ranked 48th in the country in total properties with foreclosure filings for May. One in every 11,771 Montana housing units received a foreclosure filing during the month, ranking 48th among the 50 states.

 

Missoula County tops in foreclosure activity for May

Missoula County led the state reporting nine properties with foreclosure filings for the month. Yellowstone County posted the second highest total, where seven properties with foreclosure filings were reported. Gallatin County had the third highest total, reporting six properties with foreclosure filings.

 

Mineral County posts state’s highest foreclosure rate for May

Mineral County posted the highest county foreclosure rate in the state, with one in every 1,984 housing units receiving a foreclosure filing during the month. Missoula County had the second highest rate, with one in every 5,086 housing units receiving a foreclosure filing. Ravalli County posted the third highest rate, where one in every 5,493 housing units received a foreclosure filing during the month.

 

State a minor contributor to nation’s foreclosure activity for May

Foreclosure activity in Montana represented less than 1 percent of the 321,480 properties with foreclosure filings reported nationwide in May. Total U.S. activity fell 6 percent from the previous month but was still nearly 18 percent ahead of May 2008. One in every 398 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.

 

          Montana Foreclosure Market Data by County – May 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Apr 09

% Chg May 08

 

 

 

 

 

 

 

 

 

 

United States

55,442

67,687

100,578

32,756

65,017

321,480

398

– 6.01

17.76

Montana

0

0

1

0

36

37

11,771

-39.34

-73.19

 

 

 

 

 

 

 

 

 

 

Beaverhead

0

0

0

0

0

0

n/a

n/a

n/a

Big Horn

0

0

0

0

0

0

n/a

n/a

-100.00

Blaine

0

0

0

0

0

0

n/a

-100.00

n/a

Broadwater

0

0

0

0

0

0

n/a

n/a

n/a

Carbon

0

0

0

0

0

0

n/a

n/a

n/a

Carter

0

0

0

0

0

0

n/a

n/a

n/a

Cascade

0

0

1

0

5

6

6,050

20.00

-64.71

Chouteau

0

0

0

0

0

0

n/a

n/a

n/a

Custer

0

0

0

0

0

0

n/a

n/a

n/a

Daniels

0

0

0

0

0

0

n/a

n/a

n/a

Dawson

0

0

0

0

0

0

n/a

-100.00

-100.00

Deer Lodge

0

0

0

0

0

0

n/a

-100.00

-100.00

Fallon

0

0

0

0

0

0

n/a

n/a

n/a

Fergus

0

0

0

0

0

0

n/a

-100.00

-100.00

Flathead

0

0

0

0

2

2

18,879

-90.91

-93.10

Gallatin

0

0

0

0

6

6

6,220

100.00

-66.67

Garfield

0

0

0

0

0

0

n/a

n/a

n/a

Glacier

0

0

0

0

0

0

n/a

n/a

n/a

Golden Valley

0

0

0

0

0

0

n/a

n/a

n/a

Granite

0

0

0

0

0

0

n/a

n/a

n/a

Hill

0

0

0

0

0

0

n/a

-100.00

n/a

Jefferson

0

0

0

0

0

0

n/a

n/a

n/a

Judith Basin

0

0

0

0

0

0

n/a

n/a

n/a

Lake

0

0

0

0

1

1

14,108

n/a

0.00

Lewis And Clark

0

0

0

0

1

1

26,458

-75.00

-83.33

Liberty

0

0

0

0

0

0

n/a

n/a

n/a

Lincoln

0

0

0

0

1

1

9,358

n/a

-50.00

Madison

0

0

0

0

0

0

n/a

n/a

-100.00

McCone

0

0

0

0

0

0

n/a

-100.00

n/a

Meagher

0

0

0

0

0

0

n/a

n/a

n/a

Mineral

0

0

0

0

1

1

1,984

0.00

0.00

Missoula

0

0

0

0

9

9

5,086

125.00

-10.00

Musselshell

0

0

0

0

0

0

n/a

n/a

n/a

Park

0

0

0

0

0

0

n/a

n/a

n/a

Petroleum

0

0

0

0

0

0

n/a

n/a

n/a

Phillips

0

0

0

0

0

0

n/a

n/a

n/a

Pondera

0

0

0

0

0

0

n/a

-100.00

n/a

Powder River

0

0

0

0

0

0

n/a

n/a

n/a

Powell

0

0

0

0

0

0

n/a

n/a

n/a

Prairie

0

0

0

0

0

0

n/a

n/a

n/a

Ravalli

0

0

0

0

3

3

5,493

-40.00

-80.00

Richland

0

0

0

0

0

0

n/a

n/a

n/a

Roosevelt

0

0

0

0

0

0

n/a

n/a

n/a

Rosebud

0

0

0

0

0

0

n/a

n/a

-100.00

Sanders

0

0

0

0

0

0

n/a

n/a

-100.00

Sheridan

0

0

0

0

0

0

n/a

n/a

n/a

Silver Bow

0

0

0

0

0

0

n/a

n/a

-100.00

Stillwater

0

0

0

0

0

0

n/a

-100.00

-100.00

Sweet Grass

0

0

0

0

0

0

n/a

-100.00

n/a

Teton

0

0

0

0

0

0

n/a

n/a

-100.00

Toole

0

0

0

0

0

0

n/a

-100.00

n/a

Treasure

0

0

0

0

0

0

n/a

n/a

n/a

Valley

0

0

0

0

0

0

n/a

-100.00

n/a

Wheatland

0

0

0

0

0

0

n/a

n/a

n/a

Wibaux

0

0

0

0

0

0

n/a

n/a

n/a

Yellowstone

0

0

0

0

7

7

8,391

75.00

-66.67

 

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