Ohio Foreclosure Activity Declines in January

Statewide filings down 5 percent from December

 

Foreclosure activity in Ohio decreased in January to 11,105 properties with foreclosure filings, a 5 percent decline from December 2009 and down 1 percent from January 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 457 Ohio housing units received a foreclosure filing in January, the 14th highest foreclosure rate in the nation.

 

“Though it remained among the 10 worst affected states in the nation in terms of foreclosure filings for January, Ohio did welcome a decrease in activity both compared to one month earlier and to the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Ohio’s unemployment rate of 10.9 percent continues to be high compared to this time last year and to the national average of 9.7 percent.”

 

California continues to lead the nation with 71,817 properties with foreclosure filings for the month. Florida also continued as the state with the second highest activity level in the country well behind the Golden State, documenting 47,069 properties with foreclosure filings in January. Arizona came in third highest, reporting 21,048 properties with foreclosure filings for the month. Illinois ranked fourth highest at 18,120 properties with foreclosure filings. Reporting 17,574 properties with foreclosure filings, Michigan had the fifth highest level of foreclosure activity during the month.

 

The rest of the nation’s top 10 states for total foreclosure activity in January were Texas (12,225), Nevada (11,854), Georgia (11,274) and New Jersey (6,146). Activity in the top five states accounted for 56 percent of all foreclosure filings in the nation for January.

 

Clinton County posts top foreclosure rate in the state for January

Clinton County posted the state’s highest county foreclosure rate in January, with one in every 186 housing units receiving a foreclosure filing — 2.2 times the national average. Montgomery County had the second highest foreclosure rate, with one in every 211 housing units receiving a foreclosure filing — 1.9 times the national average. Lucas County was third, with one in every 282 housing units receiving a foreclosure filing — 1.4 times the national average. Knox County came in fourth highest, with one in every 282 housing units receiving a foreclosure filing — 1.4 times the national average. Huron County posted the fifth highest foreclosure rate, where one in every 315 housing units received a foreclosure filing during the month — 1.3 times the national average.

 

Cuyahoga County led the state in total foreclosure filings for January

Cuyahoga County led all counties, totaling 1,582 properties with foreclosure filings for the month. Montgomery County was second highest, documenting 1,206 properties with foreclosure filings. Reporting 1,152 properties with foreclosure filings for the month, Franklin County had the third highest foreclosure total. Hamilton County came in fourth highest, reporting 890 properties with foreclosure filings, followed by Lucas County where 724 properties with foreclosure filings were reported.

 

State a significant contributor to nation’s foreclosure total in January

Ohio accounted for 4 percent of the 315,716 properties with foreclosure filings reported nationwide in January. Total U.S. activity declined nearly 10 percent from the previous month but was still 15 percent ahead of January 2009. One in every 409 U.S. housing units received a foreclosure filing during the month.

 

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 – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

n/a

n/a

Ohio

0

4,602

0

3,202

3,301

11,105

457

0.89

n/a

 

 

 

 

 

 

 

 

 

 

Clinton

0

3

0

41

53

97

186

2.18

2.46

Montgomery

0

587

0

401

218

1,206

211

1.92

2.16

Lucas

0

339

0

245

140

724

282

1.44

1.62

Knox

0

24

0

39

23

86

282

1.44

1.62

Huron

0

27

0

36

16

79

315

1.29

1.45

 

 

Ohio Top Foreclosure Totals by County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Dec 09

% Chg Jan 09

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

-9.67

15.06

Ohio

0

4,602

0

3,202

3,301

11,105

457

-5.45

-0.84

 

 

 

 

 

 

 

 

 

 

Cuyahoga

0

696

0

412

474

1,582

392

-26.73

-17.78

Montgomery

0

587

0

401

218

1,206

211

83.84

60.16

Franklin

0

633

0

14

505

1,152

456

-12.13

-30.56

Hamilton

0

263

0

416

211

890

432

13.96

38.41

Lucas

0

339

0

245

140

724

282

12.42

34.57

 

 

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