Nebraska Foreclosure Activity Rose in May

Statewide foreclosure filings up 12 percent from April

 

Foreclosure activity in Nebraska rose 12 percent in May to 311 properties with foreclosure filings. This latest state total still represents a 84 percent increase from the level reported in May 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Nebraska saw another hike in foreclosure activity in May, with more filings than were reported for last month and far more than were reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “With unemployment at 4.9 percent – the third lowest in the country – the state is still in far better shape than much of the nation in terms of its economy and foreclosure activity.”

 

The state’s foreclosure rate ranked 45th in the nation, as one in every 2,528 Nebraska housing units received a foreclosure filing during the month.

 

Deuel County led the state in foreclosure rate for May

Deuel County posted the highest foreclosure rate in Nebraska for May, with one in every 1,015 housing units receiving a foreclosure filing — 2.5 times the state average. Clay County had the second highest foreclosure rate, with one in every 1,033 housing units receiving a foreclosure filing — 2.5 times the state average. Douglas County had the third highest foreclosure rate, with one in every 1,104 housing units receiving a foreclosure filing — 2.3 times the state average.

 

Douglas County also tops in foreclosure total for May

Douglas County also led Nebraska in foreclosure activity, reporting 194 properties with foreclosure filings for the month. Lancaster County had the second highest total, documenting 29 properties with foreclosure filings. Reporting 14 properties with foreclosure filings for the month, Sarpy County had the third highest total. Dodge County was fourth highest, reporting seven properties with foreclosure filings.

 

State a minor contributor to nation’s monthly foreclosure total in May

Nebraska accounted for less than 1 percent of the 322,920 properties with foreclosure filings reported nationwide in May. Total U.S. activity declined by more than 3 percent from the previous month but was on par with the level reported in May 2009. One in every 400 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.

 

 

Nebraska Top Foreclosure Rates By County – May 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

38,389

58,073

94,155

38,526

93,777

322,920

400

n/a

n/a

Nebraska

132

0

64

0

115

311

2,528

0.16

n/a

 

 

 

 

 

 

 

 

 

 

Deuel

0

0

1

0

0

1

1,015

0.39

2.49

Clay

0

0

1

0

2

3

1,033

0.39

2.45

Douglas

132

0

31

0

31

194

1,104

0.36

2.29

Polk

0

0

0

0

2

2

1,383

0.29

1.83

Saline

0

0

0

0

4

4

1,448

0.28

1.75

 

 

Nebraska Top Foreclosure Totals by County – May 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Apr 10

% Chg May 09

 

 

 

 

 

 

 

 

 

 

United States

38,389

58,073

94,155

38,526

93,777

322,920

400

-3.27

0.45

Nebraska

132

0

64

0

115

311

2,528

12.27

84.02

 

 

 

 

 

 

 

 

 

 

Douglas

132

0

31

0

31

194

1,104

14.12

29.33

Lancaster

0

0

9

0

20

29

4,049

7.41

314.29

Sarpy

0

0

7

0

7

14

4,241

-17.65

600.00

Dodge

0

0

1

0

6

7

2,293

75.00

600.00

Hall

0

0

1

0

6

7

3,271

40.00

 n/a

 

 

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