New Hampshire Foreclosure Activity Trends Down in May

Total foreclosure filings statewide down 30 percent from April

 

New Hampshire foreclosure activity fell in May to 727 properties with foreclosure filings, a 30 percent decrease from the previous month, but still 6 percent ahead of May 2008, according to RealtyTrac’s latest U.S. Foreclosure Market Report.

 

“Foreclosure activity decreased significantly in New Hampshire in May, though it remained slightly above the level reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “While the state’s unemployment rate rose in May to 6.3 percent, New Hampshire is fairing better than much of the nation as the national unemployment rate is now 9.4 percent.”

 

New Hampshire ranked 37th in the country in total properties with foreclosure filings for May. One in every 817 New Hampshire housing units received a foreclosure filing during the month, ranking 25th among the 50 states.

 

Hillsborough County tops in foreclosure activity for May

Hillsborough County led the state reporting 239 properties with foreclosure filings for the month. Rockingham County posted the second highest total, where 158 properties with foreclosure filings were reported. Merrimack County had the third highest total, reporting 76 properties with foreclosure filings, followed by Strafford County, where 71 properties with foreclosure filings were tallied.

 

Belknap County posts state’s highest foreclosure rate for May

Belknap County posted the highest county foreclosure rate in the state, with one in every 636 housing units receiving a foreclosure filing during the month. Hillsborough County had the second highest rate, with one in every 677 housing units receiving a foreclosure filing. Strafford County posted the third highest rate, where one in every 708 housing units received a foreclosure filing during the month.

 

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

Foreclosure activity in New Hampshire 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.

 

      New Hampshire 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

New Hampshire

0

0

613

0

114

727

817

-29.76

6.44

 

 

 

 

 

 

 

 

 

 

Belknap

0

0

47

0

9

56

636

-15.15

80.65

Carroll

0

0

23

0

10

33

1,165

-17.50

175.00

Cheshire

0

0

19

0

3

22

1,536

-60.71

-15.38

Coos

0

0

13

0

3

16

1,259

-36.00

14.29

Grafton

0

0

31

0

4

35

1,347

0.00

118.75

Hillsborough

0

0

207

0

32

239

677

-29.71

3.91

Merrimack

0

0

65

0

11

76

812

-28.97

-16.48

Rockingham

0

0

131

0

27

158

782

-30.70

-9.71

Strafford

0

0

58

0

13

71

708

-31.73

5.97

Sullivan

0

0

19

0

2

21

1,026

-38.24

0.00

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