North Dakota Foreclosure Activity Rises in First Quarter

Statewide foreclosure filings up from last year

March numbers down from a month earlier; up from a year ago

 

Foreclosure activity in North Dakota rose 1 percent during the first quarter of 2010 and was up 20 percent from the same period last year. In all, the state reported 145 properties with foreclosure filings during the quarter.

 

In March the state reported 55 properties with foreclosure filings, an 11 percent decrease from the previous month, but still 4 percent above the level reported in March 2009. One in every 5,697 North Dakota housing units received a foreclosure filing during the month, the 48th highest state foreclosure rate.

 

“Even with a decrease in March, foreclosure activity in North Dakota rose over the first quarter of 2010, remaining well above the level reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Still, this state remains one of the least affected in the country, and with a low unemployment rate of 4.9 percent, should continue to fair better than the nation in the coming months.”

 

One in every 2,161 North Dakota housing units received a foreclosure filing during the quarter — the 48th highest state foreclosure rate in the nation.

 

Sargent County tops state in foreclosure rate for the first quarter

Sargent County had the highest county foreclosure rate in North Dakota during the first quarter, with one in every 522 housing units receiving a foreclosure filing — 4.1 times the state average. Richland County had the second highest foreclosure rate, with one in every 595 housing units receiving a foreclosure filing — 3.6 times the state average. Cass County came in third, with one in every 852 housing units receiving a foreclosure filing — 2.5 times the state average. Ransom County had the fourth highest rate, with one in every 1,369 housing units receiving a foreclosure filing — 1.6 times the state average. 

 

Cass County led the state in total foreclosures for the first quarter

Cass County led the state with 77 properties with foreclosure filings during the first quarter. Richland County had the second highest foreclosure total, reporting 13 properties with foreclosure filings. Grand Forks County was third, reporting 11 properties with foreclosure filings. Burleigh County came in fourth, reporting nine properties with foreclosure filings for the quarter.

 

State a minor contributor to quarterly foreclosure total

North Dakota represented less than 1 percent of the 932,234 properties with foreclosure filings reported nationwide for the first quarter of 2010. Total U.S. activity grew by more than 7 percent from the previous quarter and was 16 percent ahead of the first quarter 2009. One in every 138 U.S. housing units received a foreclosure filing during the quarter.

 

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 – Q1 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

121,367

183,432

267,159

102,332

257,944

932,234

138

n/a

n/a

North Dakota

0

0

0

53

92

145

2,161

0.06

n/a

 

 

 

 

 

 

 

 

 

 

Sargent

0

0

0

2

2

4

522

0.27

4.14

Richland

0

0

0

3

10

13

595

0.23

3.63

Cass

0

0

0

26

51

77

852

0.16

2.53

Ransom

0

0

0

0

2

2

1,369

0.10

1.58

Barnes

0

0

0

3

1

4

1,446

0.10

1.49

 

 

North Dakota Top Foreclosure Totals by County – Q1 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q4 2009

% Chg Q1 2009

 

 

 

 

 

 

 

 

 

 

United States

121,367

183,432

267,159

102,332

257,944

932,234

138

7.23

16.02

North Dakota

0

0

0

53

92

145

2,161

1.40

19.83

 

 

 

 

 

 

 

 

 

 

Cass

0

0

0

26

51

77

852

11.59

14.93

Richland

0

0

0

3

10

13

595

8.33

160.00

Grand Forks

0

0

0

8

3

11

2,690

-35.29

-45.00

Burleigh

0

0

0

5

4

9

3,741

-10.00

-30.77

Morton

0

0

0

2

6

8

1,493

0.00

300.00

 

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