North Dakota Reports 200 Properties With Foreclosure Filings in First Half of 2009

Statewide foreclosure activity down 24 percent from previous six months

Foreclosure filings decrease 27 percent in Q2; Up 39 percent in June

 

North Dakota reported 200 properties with foreclosure filings throughout the first six months of 2009, a 24 percent decrease from the previous six months but 85 percent ahead of the first half of 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

The Peace Garden State reported 88 properties with foreclosure filings for the second quarter of the year, a 27 percent decrease from the previous quarter but 73 percent ahead of the total reported for the same quarter last year. For June, the state reported 32 properties with foreclosure filings, up 39 percent from the previous month and a 191 percent increase from June 2008.

 

“Although North Dakota foreclosures spiked in June, it still holds one of the lowest totals so far this year,” said James J. Saccacio, chief executive officer of RealtyTrac. “North Dakota continues to report one of the lowest unemployment rates in the country — nearly 5 percent below the national average. This is definitely keeping foreclosures here lower than most states.”

 

North Dakota ranked 49th in the country in total foreclosures reported for the first six months of 2009. With one in every 1,553 housing units receiving a foreclosure filing, its foreclosure rate ranked 49th again among the 50 states.

 

Cass County leads in midyear foreclosure filings

Cass County accounted for 50 percent of North Dakota’s foreclosure activity for the first half of 2009, where 100 properties with foreclosure filings were reported. Grand Forks County came in second highest, reporting 31 properties with foreclosure filings halfway through the year. Burleigh County was third highest, documenting 23 properties with foreclosure filings. Richland County posted the fourth highest foreclosure total, where eight properties with foreclosure filings were reported. Morton County registered the state’s fifth highest total at midyear, reporting seven properties with foreclosure filings.

 

Cass County dominates in midyear foreclosure rate rankings

Cass County posted the highest foreclosure rate in North Dakota, with one in every 644 housing units receiving a foreclosure filing during the first six months of 2009. Foster County was second, with one in every 896 housing units receiving a foreclosure filing during the period. Grand Forks County had the third highest rate, with one in every 947 housing units receiving a foreclosure filing. Richland County was fourth, with one in every 964 housing units receiving a foreclosure filing, followed by fifth place Nelson County, where one in every 1,010 housing units received a foreclosure filing during the six month period.

 

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

North Dakota accounted for less than 1 percent of the 1,528,364 properties with foreclosure filings reported nationwide halfway through 2009. The national total represented a greater than 9 percent increase in activity from the previous six month period and was almost 15 percent ahead of the total reported for the first half of 2008. One in every 84 U.S. housing units received a foreclosure filing during the quarter.

 

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 quarter — 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 quarter — which is extremely rare — only the most recent filing is counted in the report.

 

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

       January – June 2009

 

County Name

Total Properties with FC Filings

% Housing Units

1/every X HU (rate)

% Chg From Jul-Dec 08

% Chg From Jan-Jun  08

 

 

 

 

 

 

United States

1,528,364

1.195

84

9.46

14.66

North Dakota

200

0.06

1,553

-24.24

85.19

 

 

 

 

 

 

Adams

0

0.00

 n/a

 n/a

 n/a

Barnes

1

0.02

5,760

-83.33

-83.33

Benson

1

0.03

2,986

 n/a

 n/a

Billings

0

0.00

 n/a

 n/a

 n/a

Bottineau

0

0.00

 n/a

 n/a

 n/a

Bowman

0

0.00

 n/a

 n/a

 n/a

Burke

0

0.00

 n/a

 n/a

 n/a

Burleigh

23

0.07

1,437

4.55

228.57

Cass

100

0.16

644

-33.77

185.71

Cavalier

1

0.04

2,743

0.00

 n/a

Dickey

0

0.00

 n/a

 n/a

 n/a

Divide

0

0.00

 n/a

 n/a

 n/a

Dunn

0

0.00

 n/a

 n/a

 n/a

Eddy

0

0.00

 n/a

 n/a

 n/a

Emmons

0

0.00

 n/a

 n/a

 n/a

Foster

2

0.11

896

100.00

100.00

Golden Valley

0

0.00

 n/a

 n/a

 n/a

Grand Forks

31

0.11

947

34.78

29.17

Grant

0

0.00

 n/a

 n/a

 n/a

Griggs

0

0.00

 n/a

 n/a

-100.00

Hettinger

0

0.00

 n/a

 n/a

 n/a

Kidder

0

0.00

 n/a

 n/a

 n/a

Lamoure

0

0.00

 n/a

-100.00

 n/a

Logan

0

0.00

 n/a

 n/a

 n/a

McHenry

0

0.00

 n/a

-100.00

 n/a

McIntosh

0

0.00

 n/a

-100.00

-100.00

McKenzie

0

0.00

 n/a

 n/a

-100.00

Mclean

1

0.02

5,383

 n/a

 n/a

Mercer

0

0.00

 n/a

 n/a

 n/a

Morton

7

0.06

1,671

40.00

40.00

Mountrail

0

0.00

 n/a

 n/a

 n/a

Nelson

2

0.10

1,010

 n/a

100.00

Oliver

0

0.00

 n/a

 n/a

 n/a

Pembina

1

0.02

4,095

-66.67

0.00

Pierce

1

0.04

2,274

0.00

 n/a

Ramsey

1

0.02

5,788

0.00

 n/a

Ransom

1

0.04

2,738

-66.67

-50.00

Renville

0

0.00

 n/a

 n/a

 n/a

Richland

8

0.10

964

-20.00

60.00

Rolette

1

0.02

5,009

0.00

 n/a

Sargent

0

0.00

n/a 

-100.00

 n/a

Sheridan

0

0.00

 n/a

 n/a

 n/a

Sioux

0

0.00

 n/a

 n/a

 n/a

Slope

0

0.00

 n/a

 n/a

 n/a

Stark

4

0.04

2,556

-20.00

 n/a

Steele

0

0.00

 n/a

 n/a

 n/a

Stutsman

3

0.03

3,322

-57.14

0.00

Towner

0

0.00

 n/a

 n/a

-100.00

Traill

0

0.00

 n/a

 n/a

 n/a

Walsh

3

0.05

1,908

0.00

50.00

Ward

5

0.02

5,206

-44.44

-16.67

Wells

2

0.08

1,329

-33.33

-33.33

Williams

1

0.01

9,829

-50.00

0.00

              

  

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