Ohio Foreclosure Activity Among Nation’s Highest in 2009

 

Statewide filings down 11 percent from 2008; Monthly activity up 11 percent from November

 

Ohio tallied 101,614 properties with foreclosure filings in 2009, the eighth highest state total in the nation, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The yearly total represents an 11 percent decrease from the total reported for 2008, and is 13 percent higher than the level reported for all of 2007. With one in every 50 housing units receiving a foreclosure filing, Ohio’s foreclosure rate ranked 12th highest in the nation for the year.

 

Ohio was ninth highest in foreclosure activity in December, reporting 11,745 properties with foreclosure filings, an 11 percent increase over the previous month, and a 4 percent increase from December 2008. The state’s foreclosure rate — one in every 431 housing units received a foreclosure filing — ranked 15th in the nation for the month.

 

“Although Ohio foreclosures decreased in 2009, it still holds one of the nation’s highest numbers for the year and for December,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s unemployment rate grew 3.5 percent during the year and is now one percent above the national average. However, home sales did pick up toward the end of the year. If this trend continues, we may see foreclosures continue to decline in 2010.”

 

California came in first for the year, reporting 632,573 properties with foreclosure filings in 2009. Second-place Florida reported 516,711 properties with foreclosure filings, and Arizona came in a distant third, reporting 163,210 properties with foreclosure filings. Illinois took fourth place, documenting 131,132 properties with foreclosure filings. Fifth place went to Michigan, which reported 118,302 properties with foreclosure filings.

 

The remaining states in the nation’s top 10 for total foreclosure filings for 2009 were Nevada (112,097), Georgia (106,110), Ohio (101,614), Texas (100,045) and New Jersey (63,208). Activity in the top five states accounted for 55 percent of all foreclosure filings in the nation for 2009.

 

Huron County posts state’s highest foreclosure rate for 2009

Huron County posted the highest county foreclosure rate in Ohio for the year, with one in every 33 housing units receiving a foreclosure filing in 2009. Butler County had the second highest rate, with one in every 34 housing units receiving a foreclosure filing. Licking, Lucas and Fayette Counties came in third highest, each with one in every 36 housing units receiving a foreclosure filing.

 

Cuyahoga County posts state’s highest total foreclosure filings in 2009

Cuyahoga County led Ohio in total foreclosures in 2009, reporting a total of 16,227 properties with foreclosure filings for the year. Franklin County came in second, documenting 12,264 properties with foreclosure filings. Hamilton County had the third highest total in Ohio, reporting 6,120 properties with foreclosure filings for the year. Montgomery County was fourth highest, reporting 6,100 properties with foreclosure filings, followed by Lucas County in fifth place, tallying 5,594 properties with foreclosure filings for all of 2009.

 

State contributes 4 percent to nation’s foreclosure total in 2009

Ohio accounted for 4 percent of the 2,824,674 properties with foreclosure filings reported nationwide in 2009. Total U.S. activity increased more than 21 percent over the level reported for all of 2008. One in every 45 U.S. housing units received a foreclosure filing during the year.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. 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 received for a property during the month, 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.

 

 

Ohio Top Foreclosure Rates by County: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

%Chg

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Ohio

101,614

2.01

50

-10.53

12.93

 

 

 

 

 

 

Huron

741

2.99

33

67.65

1,272.22

Butler

4,249

2.96

34

20.30

63.93

Licking

1,836

2.79

36

49.63

299.13

Lucas

5,594

2.75

36

-17.95

6.47

Fayette

12689

2.74

36

33.33

146.81

 

 

Ohio Top Foreclosure Totals by County: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

% Chg  

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Ohio

101,614

2.01

50

-10.53

12.93

 

 

 

 

 

 

Cuyahoga

16,227

2.61

38

-22.10

-29.13

Franklin

12,264

2.35

43

-17.93

9.97

Hamilton

6,120

1.59

63

-21.47

-9.83

Montgomery

6,100

2.39

42

-19.19

-10.11

Lucas

5,594

2.75

36

-17.95

6.47

 

 

Ohio Top Foreclosure Rates by County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

n/a

n/a

Ohio

0

4,897

0

3,101

3,747

11,745

431

0.85

n/a

 

 

 

 

 

 

 

 

 

 

Fayette

0

25

0

11

34

70

181

2.01

2.37

Fulton

0

36

0

9

18

63

273

1.33

1.57

Cuyahoga

0

1,083

0

476

600

2,159

288

1.27

1.49

Butler

0

165

0

112

221

498

288

1.26

1.49

Trumbull

0

141

0

103

67

311

312

1.17

1.38

 

 

Ohio Top Foreclosure Totals by County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Nov 09

% Chg Dec 08

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

13.99

15.20

Ohio

0

4,897

0

3,101

3,747

11,745

431

10.94

4.31

 

 

 

 

 

 

 

 

 

 

Cuyahoga

0

1,083

0

476

600

2,159

288

53.23

4.30

Franklin

0

680

0

14

617

1,311

398

24.86

19.62

Hamilton

0

257

0

330

194

781

492

-16.83

-12.54

Montgomery

0

230

0

145

281

656

388

31.73

-3.95

Lucas

0

261

0

212

171

644

316

3.54

-22.32

 

 

 

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