NEW HAMPSHIRE FORECLOSURE ACTIVITY UP 436 PERCENT IN 2008

More than 6,000 Properties Receive Foreclosure Filings in 2008

 

IRVINE, Calif. – Jan. 28, 2009 – Foreclosure filings were reported on 6,636 New Hampshire properties in 2008, an increase of 436 percent from 2007 and an increase of 5,430 percent from 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

The Granite State reported 875 properties with foreclosure filings in December, a 30 percent increase from the previous month and an 80 percent increase over December 2007.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1.5 million properties from over 2,200 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

New Hampshire foreclosures skyrocketed during 2008,” said James J. Saccacio, chief executive officer of RealtyTrac. “Although unemployment in New Hampshire inched up to 4.6 percent in December, it remains well below the national jobless average of 7.2 percent. Increases in foreclosure activity and personal bankruptcy cases are complicating the New Hampshire housing market and making it difficult for many homeowners to stay afloat in these recessionary times.”

 

New Hampshire ranked 34th in the country in total foreclosures reported for the year. With one in every 89 housing units receiving a foreclosure filing, its foreclosure rate ranked 22nd among the 50 states.

 

Top five counties responsible for bulk of state’s foreclosure activity

Five New Hampshire counties accounted for 82 percent of all foreclosure activity in the state for 2008. Hillsborough County led all others, reporting 2,230 properties with foreclosure filings for the year. Rockingham County came in a close second, reporting 1,579 properties with foreclosure filings. Merrimack County registered the third highest total, reporting 708 properties with foreclosure filings. Strafford County posted the fourth highest foreclosure total, reporting 540 properties with foreclosure filings. Belknap County came in fifth, documenting 388 properties with foreclosure filings.

 

Hillsborough County posts top foreclosure rate for 2008

Three New Hampshire counties led the state in foreclosure rate for 2008. Hillsborough County topped the list, with 1.39 percent of its housing units receiving at least one foreclosure filing during the year. Rockingham County came in second, with 1.29 percent of its housing units receiving at least one foreclosure filing. Merrimack County documented the third highest foreclosure rate, where 1.16 percent of the housing stock received at least one foreclosure filing in 2008. Rounding out the state’s top five were Belknap County (1.10 percent) and Strafford County (1.09 percent).

 

State contributes less than 1 percent to nation’s foreclosure total for 2008

New Hampshire accounted for less than 1 percent of the 2,330,483 properties with foreclosure filings reported nationwide in 2008. The national total represented an increase of more than 81 percent from the total reported for 2007. For the year 1.84 percent of all U.S. housing units received at least one foreclosure filing, up from 1.03 percent in 2007.

 

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 – Yearend 2008

 

Rate Rank

County

Total Properties With Foreclosure Filings

% Housing Units

(Foreclosure Rate)

% Change From 2007

 

 

 

 

 

n/a

United States

2,330,483

1.84

81.24

n/a

New Hampshire

6,636

1.13

436.03

 

 

 

 

 

4

Belknap

388

1.10

470.59

9

Carroll

242

0.63

3933.33

8

Cheshire

298

0.89

473.08

6

Coos

211

1.05

390.70

10

Grafton

243

0.52

3950.00

1

Hillsborough

2,230

1.39

293.99

3

Merrimack

708

1.16

645.26

2

Rockingham

1,579

1.29

502.67

5

Strafford

540

1.09

321.88

7

Sullivan

197

0.92

1541.67

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new homes, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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