North Dakota Foreclosures Head Downward in August

North Dakota foreclosure activity fell in August, down to 33 properties with foreclosure filings for the month, a 34 percent decrease from the previous month and 25 percent below the level reported in August 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“North Dakota foreclosures are down in August and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “This is no surprise as the state holds the lowest unemployment rate in the nation. Home sales have also started to pick up this year, which may drive numbers down further.”

 

North Dakota ranked 49th in the country in total foreclosures reported for the month. With one in every 9,411 housing units receiving a foreclosure filing, its foreclosure rate ranked 49th again among the 50 states.

 

Richland County posts state’s top foreclosure rate in August

Richland County posted the highest county foreclosure rate in the state for August, with one in every 1,927 housing units receiving a foreclosure filing — 4.9 times the state average. Sargent County had the second highest foreclosure rate, with one in every 2,086 housing units receiving a foreclosure filing during the month — 4.5 times the state average. Morton County posted the third highest foreclosure rate, where one in every 2,925 housing units received a foreclosure filing — 3.2 times the state average.

 

Five counties accounted for 85 percent of state’s foreclosure activity for August

Cass County led the way, tallying 12 properties with foreclosure filings for the month. Grand Forks County reported the second highest foreclosure total, documenting five properties with foreclosure filings. Reporting four properties with foreclosure filings for the month, Morton and Richland Counties had the third highest total, followed by Burleigh County, where three properties with foreclosure filings were reported for the month.

 

State a minor contributor to nation’s foreclosure activity in August

North Dakota accounted for less than one percent of the 358,471 properties with foreclosure filings reported nationwide in August. Total U.S. activity declined fractionally from the previous month but was still 18 percent ahead of August 2008. One in every 357 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 Top Foreclosure Rates by County – August 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

62,070

76,154

105,850

38,263

76,134

358,471

357

n/a

n/a

North Dakota

0

2

0

16

15

33

9,411

0.04

n/a

 

 

 

 

 

 

 

 

 

 

Richland

0

0

0

2

2

4

1,927

0.19

4.88

Sargent

0

0

0

0

1

1

2,086

0.17

4.51

Morton

0

1

0

2

1

4

2,925

0.12

3.22

Rolette

0

0

0

1

0

1

5,009

0.07

1.88

Cass

0

0

0

7

5

12

5,366

0.07

1.75

 

 

North Dakota Top Foreclosure Totals by County – August 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg July 09

% Chg Aug 08

 

 

 

 

 

 

 

 

 

 

United States

62,070

76,154

105,850

38,263

76,134

358,471

357

6.74

32.32

North Dakota

0

2

0

16

15

33

9,411

-34.00

-25.00

 

 

 

 

 

 

 

 

 

 

Cass

0

0

0

7

5

12

5,366

-50.00

-50.00

Grand Forks

0

1

0

2

2

5

5,870

-61.54

0.00

Morton

0

1

0

2

1

4

2,925

300.00

300.00

Richland

0

0

0

2

2

4

1,927

100.00

300.00

Burleigh

0

0

0

2

1

3

11,017

-25.00

-40.00

 

 

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