Ohio Foreclosure Activity Down 9 Percent in November

Statewide foreclosure filings down 18 percent from November 2008

 

Ohio foreclosure activity fell for the month of November to 10,587 properties with foreclosure filings, down 9 percent from the previous month, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The monthly total is 18 percent behind the level reported in November 2008.

 

“While many states saw an increase in foreclosure activity in November, Ohio was one of the lucky ones managing to keep foreclosure activity down,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, this slowdown may be short lived as the state’s unemployment rate remains at 10 percent — well above the level reported for this time last year.”

 

California held on to its substantial lead in total foreclosure activity, reporting 73,995 properties with foreclosure filings. Florida came in second once again, reporting 52,935 properties with foreclosure filings in November. Illinois maintained its third place ranking, reporting 16,442 properties with foreclosure filings for the month. Michigan had the fourth highest total, documenting 15,988 properties with foreclosure filings. Arizona took over fifth place, reporting 14,349 properties with foreclosure filings.

 

The remaining states in the nation’s top 10 for total foreclosure filings in November were Texas (12,098), Georgia (9,664), Nevada (9,295) and New Jersey (9,227). Activity in the top five states accounted for 57 percent of all foreclosure filings in the nation for November.

 

One in every 478 Ohio housing units received a foreclosure filing in November, the 13th highest foreclosure rate in the nation.

 

Fayette County posts state’s highest foreclosure rate in November

Fayette County posted the highest county foreclosure rate in the state for November, with one in every 192 housing units receiving a foreclosure filing — 2.5 times the state average. Butler County had the second highest foreclosure rate, with one in every 242 housing units receiving a foreclosure filing — twice the state average. Warren County came in third highest, with one in every 320 housing units receiving a foreclosure filing — 1.5 times the state average.

 

Cuyahoga County led state in total foreclosure filings for November

Cuyahoga County led all counties, totaling 1,409 properties with foreclosure filings for the month. Franklin County was second highest, documenting 1,050 properties with foreclosure filings. Reporting 939 properties with foreclosure filings for the month, Hamilton County had the third highest total in the state, while Lucas County was fourth highest, reporting 622 properties with foreclosure filings for the month.

 

State the sixth largest contributor to nation’s foreclosure total in November

Ohio accounted for 3 percent of the 306,627 properties with foreclosure filings reported nationwide in November. Total U.S. activity declined nearly 8 percent from the previous month but was still 18 percent ahead of November 2008. One in every 417 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 – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

n/a

n/a

Ohio

0

3,963

0

3,142

3,482

10,587

478

0.87

n/a

 

 

 

 

 

 

 

 

 

 

Fayette

0

5

0

12

49

66

192

2.17

2.49

Butler

0

162

0

154

278

594

242

1.72

1.98

Warren

0

91

0

74

72

237

320

1.30

1.49

Richland

0

60

0

34

75

169

325

1.28

1.47

Lucas

0

225

0

178

219

622

327

1.28

1.46

 

 

Ohio Top Foreclosure Totals by County – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 09

% Chg Nov 08

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

-7.72

18.35

Ohio

0

3,963

0

3,142

3,482

10,587

478

-9.09

-17.82

 

 

 

 

 

 

 

 

 

 

Cuyahoga

0

646

0

498

265

1,409

441

-25.01

-29.51

Franklin

0

545

0

8

497

1,050

497

15.64

-36.44

Hamilton

0

258

0

518

163

939

409

11.12

-5.44

Lucas

0

225

0

178

219

622

327

-12.02

-33.76

Butler

0

162

0

154

278

594

242

6.26

-8.05

 

 

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