North Dakota Foreclosure Activity Trends Downward in May

Statewide foreclosure filings down 38 percent from April

 

North Dakota foreclosure activity fell in May to 23 properties with foreclosure filings, a 38 percent decrease from the previous month, but still 10 percent above the level reported in May 2008, according to RealtyTrac’s latest U.S. Foreclosure Market Report.

 

“Foreclosure activity decreased significantly in North Dakota in May, though it remained above the level reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Helping to keep foreclosures at bay is the state’s low unemployment rate of 4.4 percent — one of the lowest in the nation.”

 

North Dakota ranked 49th in the country in total properties with foreclosure filings for May. One in every 13,502 North Dakota housing units received a foreclosure filing during the month, ranking 49th among the 50 states.

 

Cass County tops in foreclosure activity for May

Cass County led the state reporting 11 properties with foreclosure filings for the month. Stark County posted the second highest total, where three properties with foreclosure filings were reported. Grand Forks and Richland counties had the third highest total, each reporting two properties with foreclosure filings.

 

Foster County posts state’s highest foreclosure rate for May

Foster County posted the highest county foreclosure rate in North Dakota, with one in every 1,791 housing units receiving a foreclosure filing in May. Stark County had the second highest rate, with one in every 3,408 housing units receiving a foreclosure filing. Traill County posted the third highest rate, where one in every 3,755 housing units received a foreclosure filing during the month.

 

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

Foreclosure activity in North Dakota 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.

 

         North Dakota 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

North Dakota

0

1

0

10

12

23

13,502

-37.84

9.52

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

0

0

n/a

n/a

n/a

Barnes

0

0

0

1

0

1

5,760

n/a

n/a

Benson

0

0

0

0

0

0

n/a

n/a

n/a

Billings

0

0

0

0

0

0

n/a

n/a

n/a

Bottineau

0

0

0

0

0

0

n/a

n/a

n/a

Bowman

0

0

0

0

0

0

n/a

n/a

n/a

Burke

0

0

0

0

0

0

n/a

n/a

n/a

Burleigh

0

0

0

0

1

1

33,052

-88.89

0.00

Cass

0

0

0

7

4

11

5,854

-21.43

37.50

Cavalier

0

0

0

0

0

0

n/a

n/a

n/a

Dickey

0

0

0

0

0

0

n/a

n/a

n/a

Divide

0

0

0

0

0

0

n/a

n/a

n/a

Dunn

0

0

0

0

0

0

n/a

n/a

n/a

Eddy

0

0

0

0

0

0

n/a

n/a

n/a

Emmons

0

0

0

0

0

0

n/a

n/a

n/a

Foster

0

0

0

0

1

1

1,791

n/a

0.00

Golden Valley

0

0

0

0

0

0

n/a

n/a

n/a

Grand Forks

0

0

0

2

0

2

14,676

-66.67

n/a

Grant

0

0

0

0

0

0

n/a

n/a

n/a

Griggs

0

0

0

0

0

0

n/a

n/a

-100.00

Hettinger

0

0

0

0

0

0

n/a

n/a

n/a

Kidder

0

0

0

0

0

0

n/a

n/a

n/a

Lamoure

0

0

0

0

0

0

n/a

n/a

n/a

Logan

0

0

0

0

0

0

n/a

n/a

n/a

McHenry

0

0

0

0

0

0

n/a

n/a

n/a

McIntosh

0

0

0

0

0

0

n/a

n/a

-100.00

McKenzie

0

0

0

0

0

0

n/a

n/a

n/a

Mclean

0

0

0

0

0

0

n/a

n/a

n/a

Mercer

0

0

0

0

0

0

n/a

n/a

n/a

Morton

0

1

0

0

0

1

11,699

0.00

-66.67

Mountrail

0

0

0

0

0

0

n/a

n/a

n/a

Nelson

0

0

0

0

0

0

n/a

n/a

-100.00

Oliver

0

0

0

0

0

0

n/a

n/a

n/a

Pembina

0

0

0

0

0

0

n/a

n/a

-100.00

Pierce

0

0

0

0

0

0

n/a

n/a

n/a

Ramsey

0

0

0

0

0

0

n/a

n/a

n/a

Ransom

0

0

0

0

0

0

n/a

n/a

n/a

Renville

0

0

0

0

0

0

n/a

n/a

n/a

Richland

0

0

0

0

2

2

3,855

0.00

n/a

Rolette

0

0

0

0

0

0

n/a

n/a

n/a

Sargent

0

0

0

0

0

0

n/a

n/a

n/a

Sheridan

0

0

0

0

0

0

n/a

n/a

n/a

Sioux

0

0

0

0

0

0

n/a

n/a

n/a

Slope

0

0

0

0

0

0

n/a

n/a

n/a

Stark

0

0

0

0

3

3

3,408

50.00

n/a

Steele

0

0

0

0

0

0

n/a

n/a

n/a

Stutsman

0

0

0

0

0

0

n/a

-100.00

n/a

Towner

0

0

0

0

0

0

n/a

n/a

n/a

Traill

0

0

0

0

1

1

3,755

n/a

n/a

Walsh

0

0

0

0

0

0

n/a

n/a

-100.00

Ward

0

0

0

0

0

0

n/a

-100.00

-100.00

Wells

0

0

0

0

0

0

n/a

-100.00

-100.00

Williams

0

0

0

0

0

0

n/a

n/a

n/a

 

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