NORTH DAKOTA FORECLOSURES DROP 50 PERCENT IN APRIL

Activity More Than Doubles From a Year Ago

 

IRVINE, Calif. – May 18, 2007 – North Dakota reported 12 new foreclosure filings in April, falling 50 percent from the previous month, but soaring 140 percent above the level reported for April 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 900,000 properties from nearly 2,500 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.

 

“Although North Dakota foreclosures have more than doubled since this time last year, the state still holds one of the lowest foreclosure totals nationwide,” said James J. Saccacio, chief executive officer of RealtyTrac. “With strong employment growth — especially in the apparel and piece goods sectors — it is likely that foreclosures here will continue to remain scarce.”

 

North Dakota ranked the second lowest state in total foreclosures for April. The state’s foreclosure rate of one foreclosure filing for every 24,139 households ranks it again the second lowest state.

 

Cass County accounts for largest share of state total

Cass County reported the highest county total for the month with five foreclosure filings. Ward County came had the second highest total with two foreclosure filings, followed by Grand Forks, Pembina, Stark, Stutsman and Walsh Counties — each reporting one foreclosure filing for the month.

 

Pembina County posts highest foreclosure rate in the state

Pembina County posted the highest foreclosure rate in North Dakota for April, reporting one foreclosure filing for every 4,115 households — 5.9 times the state average. Walsh County reported the second highest rate with one foreclosure filing for every 5,757 households — 4.2 times the state average. Stark County registered the third highest rate with one filing for every 9,722 households — 2.5 times the state average. 

 

State contribution minor to overall national total

Total foreclosure filings in North Dakota accounted for less than 1 percent of the 147,708 foreclosure filings nationwide in April. The national total was down less than 1 percent from the previous month, but still up 62 percent from April 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 783 U.S. households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — 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).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

                   North Dakota Foreclosure Market by County – April 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

United States

47,171

49,794

7,388

21,085

22,270

147,708

783

n/a

n/a

North Dakota

1

2

0

0

9

12

24,139

0.03

n/a

 

 

 

 

 

 

 

 

 

Cass

0

2

0

0

3

5

10,758

0.07

2.24

Grand Forks

1

0

0

0

0

1

27,373

0.03

0.88

McHenry

0

0

0

0

0

0

n/a

0.00

0.00

Pembina

0

0

0

0

1

1

4,115

0.19

5.87

Richland

0

0

0

0

0

0

n/a

0.00

0.00

Stark

0

0

0

0

1

1

9,722

0.08

2.48

Stutsman

0

0

0

0

1

1

9,817

0.08

2.46

Traill

0

0

0

0

0

0

n/a

0.00

0.00

Walsh

0

0

0

0

1

1

5,757

0.14

4.19

Ward

0

0

0

0

2

2

12,549

0.06

1.92

 

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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