Ohio Foreclosure Activity Trends Downward in May

Total foreclosure filings statewide down 8 percent from April

State’s foreclosure rate No. 10 in the nation

 

Ohio foreclosure activity fell in May to 11,360 properties with foreclosure filings, an 8 percent decrease from the previous month, and 13 percent below the level reported for May 2008, according to RealtyTrac’s® latest U.S. Foreclosure Market Report. One in every 446 Ohio housing units received a foreclosure filing in May, the tenth highest state foreclosure rate in the nation for the month.

 

Ohio foreclosures were down both in May and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “While its overall foreclosure rate and unemployment rate ranked higher than most states, statistics show that the state’s home values have not fallen as far as the national average. This may be giving distressed borrowers more financing options.”

 

Outranked by California, Florida, Nevada, Arizona and Michigan, Ohio placed sixth highest in total foreclosure filings in May, reporting 11,360 properties with foreclosure filings. Illinois followed closely in seventh, reporting 10,942 properties with foreclosure filings and Georgia came in eighth with 10,516 properties with foreclosure filings.

 

Completing the nation’s top 10 states for total foreclosure filings in May were Texas with 9,813 properties with foreclosure filings and Virginia with 5,385 properties with foreclosure filings. Combined, the top 10 states accounted for 75 percent of all foreclosure activity in the nation for the month.

 

Five counties accounted for 46 percent of state’s foreclosure activity for May

Cuyahoga County led all counties, reporting 1,780 properties with foreclosure filings for the month. Franklin County posted the second highest total, where 1,528 properties with foreclosure filings were reported. Hamilton County had the third highest total, reporting 735 properties with foreclosure filings, followed by Montgomery County, where 683 properties with foreclosure filings were tallied. Butler County held the fifth highest total, where 523 properties with foreclosure filings were reported for the month.

 

Butler County posts state’s highest foreclosure rate for May

Butler County posted the highest county foreclosure rate in Ohio, with one in every 275 housing units receiving a foreclosure filing during the month. Huron County had the second highest rate, with one in every 276 housing units receiving a foreclosure filing. Clark County posted the third highest rate, where one in every 292 housing units received a foreclosure filing during the month.

 

State contributes 4 percent to nation’s foreclosure activity for May

Foreclosure activity in Ohio represented 4 percent of the 321,480 properties with foreclosure filings reported nationwide in May. Total U.S. activity fell 6 percent from the previous month but was still nearly 18 percent ahead of May 2008. One in every 398 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.

 

                 Ohio Foreclosure Market Data by County – May 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Apr 09

% Chg May 08

 

 

 

 

 

 

 

 

 

 

United States

55,442

67,687

100,578

32,756

65,017

321,480

398

– 6.01

17.76

Ohio

0

4,289

0

4,009

3,062

11,360

446

-7.82

-12.57

 

 

 

 

 

 

 

 

 

 

Adams

0

1

0

4

5

10

1,202

42.86

900.00

Allen

0

31

0

30

5

66

687

-32.65

153.85

Ashland

0

24

0

13

9

46

478

76.92

283.33

Ashtabula

0

35

0

16

22

73

625

-36.52

-27.72

Athens

0

7

0

5

9

21

1,200

10.53

-4.55

Auglaize

0

2

0

42

15

59

330

353.85

436.36

Belmont

0

0

0

13

4

17

1,843

30.77

-29.17

Brown

0

30

0

15

20

65

296

41.30

12.07

Butler

0

119

0

81

323

523

275

-18.28

77.89

Carroll

0

0

0

0

6

6

2,174

-64.71

200.00

Champaign

0

0

0

2

23

25

674

78.57

525.00

Clark

0

73

0

103

37

213

292

61.36

57.78

Clermont

0

74

0

56

72

202

385

16.09

-38.97

Clinton

0

3

0

27

1

31

580

-40.38

-13.89

Columbiana

0

27

0

23

22

72

651

-28.00

33.33

Coshocton

0

0

0

16

13

29

557

45.00

190.00

Crawford

0

17

0

7

7

31

665

-61.25

3000.00

Cuyahoga

0

788

0

582

410

1,780

349

-3.78

-20.04

Darke

0

0

0

20

1

21

1,063

-8.70

-12.50

Defiance

0

0

0

8

13

21

805

-4.55

425.00

Delaware

0

64

0

54

32

150

410

7.91

76.47

Erie

0

40

0

27

17

84

447

-35.38

71.43

Fairfield

0

49

0

75

25

149

376

6.43

-3.25

Fayette

0

13

0

17

13

43

295

-30.65

104.76

Franklin

0

489

0

750

289

1,528

342

-5.33

48.64

Fulton

0

25

0

18

8

51

338

24.39

34.21

Gallia

0

0

0

0

4

4

3,334

 n/a

300.00

Geauga

0

18

0

25

11

54

656

-30.77

107.69

Greene

0

38

0

49

11

98

669

18.07

-36.36

Guernsey

0

0

0

13

9

22

889

69.23

120.00

Hamilton

0

217

0

305

213

735

523

17.79

-31.63

Hancock

0

25

0

34

14

73

462

-2.67

-10.98

Hardin

0

8

0

7

0

15

878

-40.00

36.36

Harrison

0

0

0

0

0

0

 n/a

-100.00

 n/a

Henry

0

0

0

9

7

16

765

128.57

-15.79

Highland

0

1

0

1

1

3

6,098

-57.14

-94.23

Hocking

0

1

0

6

0

7

1,790

-46.15

 n/a

Holmes

0

4

0

1

1

6

2,110

20.00

 n/a

Huron

0

46

0

29

15

90

276

1.12

1185.71

Jackson

0

0

0

4

0

4

3,660

-76.47

 n/a

Jefferson

0

17

0

0

45

62

540

416.67

195.24

Knox

0

18

0

17

0

35

688

-35.19

-52.05

Lake

0

73

0

60

57

190

520

-14.41

6.15

Lawrence

0

13

0

5

8

26

1,052

-31.58

36.84

Licking

0

65

0

70

50

185

356

5.71

143.42

Logan

0

0

0

7

8

15

1,540

-60.53

-59.46

Lorain

0

83

0

139

98

320

384

-11.85

-7.25

Lucas

0

224

0

165

89

478

425

-26.35

-69.84

Madison

0

0

0

12

17

29

534

-25.64

70.59

Mahoning

0

92

0

4

22

118

967

-37.57

-51.44

Marion

0

1

0

1

0

2

13,832

-96.08

-95.45

Medina

0

87

0

27

36

150

441

-3.85

782.35

Meigs

0

0

0

0

0

0

 n/a

-100.00

 n/a

Mercer

0

0

0

13

0

13

1,287

333.33

-51.85

Miami

0

0

0

33

39

72

586

-27.27

0.00

Monroe

0

0

0

0

0

0

 n/a

n/a

n/a 

Montgomery

0

389

0

147

147

683

373

-25.68

-25.84

Morgan

0

0

0

0

19

19

423

111.11

 n/a

Morrow

0

2

0

7

11

20

658

33.33

185.71

Muskingum

0

33

0

42

29

104

341

22.35

215.15

Noble

0

0

0

0

0

0

 n/a

n/a 

n/a 

Ottawa

0

0

0

27

12

39

695

129.41

550.00

Paulding

0

0

0

8

4

12

734

0.00

0.00

Perry

0

2

0

28

3

33

429

153.85

1000.00

Pickaway

0

20

0

28

8

56

353

-27.27

60.00

Pike

0

0

0

6

0

6

2,061

20.00

50.00

Portage

0

59

0

51

17

127

513

5.83

5.83

Preble

0

1

0

15

4

20

900

-54.55

-37.50

Putnam

0

1

0

1

0

2

6,723

-50.00

 n/a

Richland

0

50

0

73

55

178

309

-38.62

72.82

Ross

0

23

0

17

6

46

657

-34.29

130.00

Sandusky

0

0

0

10

7

17

1,536

-34.62

240.00

Scioto

0

17

0

26

8

51

681

70.00

183.33

Seneca

0

21

0

19

18

58

420

70.59

728.57

Shelby

0

0

0

22

1

23

870

9.52

-64.62

Stark

0

141

0

97

206

444

371

-10.66

-44.29

Summit

0

236

0

123

133

492

494

-13.07

-54.74

Trumbull

0

98

0

102

80

280

346

20.17

-33.49

Tuscarawas

0

20

0

32

15

67

581

24.07

59.52

Union

0

21

0

0

2

23

812

-34.29

228.57

Van Wert

0

0

0

19

11

30

425

114.29

233.33

Vinton

0

0

0

0

0

0

 n/a

n/a 

n/a 

Warren

0

112

0

0

39

151

503

-13.22

-32.29

Washington

0

1

0

0

15

16

1,748

433.33

45.45

Wayne

0

45

0

6

21

72

635

-7.69

800.00

Williams

0

0

0

25

15

40

424

135.29

344.44

Wood

0

53

0

34

19

106

490

-16.54

140.91

Wyandot

0

2

0

4

1

7

1,386

-66.67

600.00

 

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