North Dakota Reports 50 Properties With Foreclosure Filings in July

Statewide filings increase 56 percent from June; down 23 percent from year ago.

 

North Dakota reported 50 properties with foreclosure filings for July, a 56 percent increase from the previous month, but 23 percent below the level reported in July 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. 

 

“Foreclosure filings rose substantially in North Dakota in July, though the amount of activity was much lower than was reported at this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The year over year slowdown in foreclosures is not surprising given that the state had an unemployment rate of 4.2 percent in July – the lowest jobless rate in the nation.”

 

North Dakota ranked 49th in the country in total properties with foreclosure filings for July. One in every 6,211 North Dakota housing units received a foreclosure filing during the month, ranking 48th among the 50 states.

 

Grand Forks County posts state’s top foreclosure rate in July

With one in every 2,258 housing units receiving a foreclosure filing — 2.8 times the state average — Grand Forks County posted the highest county foreclosure rate in the state for July. Cass County came in second highest, with one in every 2,683 housing units receiving a foreclosure filing during the month — 2.3 times the state average. Third highest rate was documented in McHenry County, where one in every 3,025 housing units received a foreclosure filing — 2.1 times the state average.

 

Cass County accounts for nearly half of state’s foreclosure activity for July

Cass County tallied the highest activity level, reporting 24 properties with foreclosure filings for the month. Grand Forks County came in second, documenting 13 properties with foreclosure filings. Burleigh County tallied four properties with foreclosure filings, the third highest total in the state. Richland and Stark counties were fourth, each reporting two properties with foreclosure filings for the month.

 

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

North Dakota contributed less than 1 percent of the 360,149 properties with foreclosure filings reported nationwide in July. Total U.S. activity rose almost 7 percent from the previous month and was more than 32 percent ahead of July 2008. One in every 355 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 – July 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl Avg

/State Avg

 

 

 

 

 

 

 

 

 

 

United States

62,939

71,565

104,830

33,557

87,258

360,149

355

n/a

n/a

North Dakota

0

1

0

26

23

50

6,211

0.06

n/a

 

 

 

 

 

 

 

 

 

 

Grand Forks

0

0

0

2

11

13

2,258

0.16

2.75

Cass

0

0

0

18

6

24

2,683

0.13

2.31

McHenry

0

0

0

1

0

1

3,025

0.12

2.05

Trail

0

0

0

0

1

1

3,755

0.09

1.65

Richland

0

0

0

0

2

2

3,855

0.09

1.61

 

 

North Dakota Top Foreclosure Totals by County – July 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 09

% Chg July 08

 

 

 

 

 

 

 

 

 

 

United States

62,939

71,565

104,830

33,557

87,258

360,149

355

6.74

32.32

North Dakota

0

1

0

26

23

50

6,211

56.25

-23.08

 

 

 

 

 

 

 

 

 

 

Cass

0

0

0

18

6

24

2,683

100.00

-46.67

Grand Forks

0

0

0

2

11

13

2,258

85.71

160.00

Burleigh

0

0

0

3

1

4

8,263

300.00

33.33

Richland

0

0

0

0

2

2

3,855

n/a

n/a

Stark

0

1

0

1

0

2

5,112

n/a

n/a

 

 

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