North Dakota Foreclosure Activity Down 22 Percent in November

Statewide foreclosure filings down 16 percent from November 2008

 

North Dakota foreclosure activity fell for the month of November to 46 properties with foreclosure filings, down 22 percent from the previous month, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The monthly total is 16 percent behind the level reported in November 2008.

 

“Foreclosure activity in North Dakota declined significantly in November, remaining well below the level reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Closely related to the number of new foreclosure filings is unemployment, which within the state remains well below the national average at 7.5 percent.”

 

One in every 6,751 North Dakota housing units received a foreclosure filing in November, the 48th highest foreclosure rate in the nation.

 

Sheridan County posts state’s highest foreclosure rate in November

Sheridan County posted the highest county foreclosure rate in the state for November, with one in every 933 housing units receiving a foreclosure filing — 7.2 times the state average. Towner County had the second highest foreclosure rate, with one in every 1,571 housing units receiving a foreclosure filing — 4.3 times the state average. Nelson County came in third highest, with one in every 2,019 housing units receiving a foreclosure filing — 3.3 times the state average.

 

Cass County led state in total foreclosure filings for November

Cass County led all counties, totaling 19 properties with foreclosure filings for the month. Grand Forks County was second highest, documenting nine properties with foreclosure filings. Reporting four properties with foreclosure filings for the month, Burleigh County had the third highest total in the state, while Richland County was fourth highest, reporting three properties with foreclosure filings for the month.

 

State a minor contributor to nation’s foreclosure total in November

North Dakota accounted for less than 1 percent of the 306,627 properties with foreclosure filings reported nationwide in November. Total U.S. activity declined nearly 8 percent from the previous month but was still 18 percent ahead of November 2008. One in every 417 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.

 

 

North Dakota Top Foreclosure Rates By County – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

n/a

n/a

North Dakota

0

0

0

16

30

46

6,751

0.06

n/a

 

 

 

 

 

 

 

 

 

 

Sheridan

0

0

0

0

1

1

933

0.45

7.24

Towner

0

0

0

1

0

1

1,571

0.27

4.30

Nelson

0

0

0

1

0

1

2,019

0.21

3.34

Pembina

0

0

0

1

1

2

2,048

0.20

3.30

Pierce

0

0

0

0

1

1

2,274

0.18

2.97

 

 

North Dakota Top Foreclosure Totals by County – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 09

% Chg Nov 08

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

-7.72

18.35

North Dakota

0

0

0

16

30

46

6,751

-22.03

-16.36

 

 

 

 

 

 

 

 

 

 

Cass

0

0

0

6

13

19

3,389

-38.71

-34.48

Grand Forks

0

0

0

5

4

9

3,261

50.00

50.00

Burleigh

0

0

0

1

3

4

8,263

33.33

-50.00

Richland

0

0

0

0

3

3

2,570

-50.00

200.00

Pembina

0

0

0

1

1

2

2,048

0.00

Stark

0

0

0

1

1

2

5,112

100.00

100.00

 

 

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