North Dakota Foreclosure Activity Increases in August

Filings increase 53 percent from July

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 58 North Dakota properties in August, a 53 percent increase from the previous month and a 76 percent increase from August 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

“North Dakota foreclosures were up in August,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in auctions, which climbed 200 percent for the month. Even so, the state still holds the second lowest number of foreclosures in the county. With the lowest unemployment rate and higher-than-average home sales, it is likely that foreclosures here will continue to remain scarce.”

 

North Dakota ranked 49th in the nation in total foreclosures reported for the month. Its foreclosure rate of one in every 5,402 housing units receiving a foreclosure filing during the month, ranked it 48th among the 50 states.

 

Barnes County dominates the state in foreclosure rate for August

Foreclosure rates for August were led by Barnes County, where one in every 1,157 housing units received a foreclosure filing during the month. One in every 1,327 housing units received a foreclosure filing in Morton County, for the second highest rate in the state. Coming in third was Ransom County, where one in every 1,369 housing units received a foreclosure filing in August. Fourth highest was Renville County, where one in every 1,432 housing units received a foreclosure filing. Nelson County came in fifth, with one in every 2,016 housing units receiving a foreclosure filing during the month.

 

Cass County posts top foreclosure total for August

Cass County led North Dakota in total foreclosure activity for August, reporting 21 properties with foreclosure filings. Morton County documented the second highest foreclosure activity, where nine properties with foreclosure filings were reported. Barnes and Burleigh Counties came in third, each tallying five properties with foreclosure filings. Grand Forks County followed, reporting three properties with foreclosure filings for the month.

 

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

North Dakota accounted for less than 1 percent of the 338,836 properties with foreclosure filings reported nationwide in August. Total U.S. activity increased by more than 4 percent from the previous month, but was down more than 5 percent from the level reported in August 2009. One in every 381 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 – August 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,887

51,582

95,887

51,116

95,364

338,836

381

n/a

n/a

North Dakota

0

0

0

30

28

58

5,402

0.07

n/a

 

 

 

 

 

 

 

 

 

 

Barnes

0

0

0

3

2

5

1,157

0.33

4.67

Morton

0

0

0

8

1

9

1,327

0.29

4.07

Ransom

0

0

0

0

2

2

1,369

0.28

3.95

Renville

0

0

0

0

1

1

1,432

0.27

3.77

Nelson

0

0

0

0

1

1

2,016

0.19

2.68

 

 

North Dakota Top Foreclosure Totals by County – August 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

44,887

51,582

95,887

51,116

95,364

338,836

381

4.18

-5.48

North Dakota

0

0

0

30

28

58

5,402

52.63

75.76

 

 

 

 

 

 

 

 

 

 

Cass

0

0

0

8

13

21

3,126

5.00

75.00

Morton

0

0

0

8

1

9

1,327

350.00

125.00

Barnes

0

0

0

3

2

5

1,157

400.00

n/a

Burleigh

0

0

0

3

2

5

6,734

25.00

66.67

Grand Forks

0

0

0

2

1

3

9,863

0.00

-40.00

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved