Oklahoma Foreclosure Activity Drops in April

Statewide foreclosure filings down 6 percent from March; still 69 percent above April 2009

 

Monthly foreclosure activity in Oklahoma fell in April, down 6 percent from the previous month to 1,992 properties with foreclosure filings. This latest state total still represents a 69 percent year-over-year increase in foreclosure filings from April 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity in Oklahoma declined modestly in April, but remained substantially higher than what was reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “At 6.6 percent, unemployment in Oklahoma is holding steady, which is far lower than much of the nation. Still, it is not quite low enough to bring Oklahoma’s foreclosure activity back in line with last year’s numbers.”

 

The state had the 30th highest state foreclosure rate in the nation with one in 822 Oklahoma housing units receiving a foreclosure filing during the month.

 

Washington County posts top foreclosure rate for April

Washington County posted the highest county foreclosure rate in Oklahoma for April, with one in every 181 housing units receiving a foreclosure filing — 4.5 times the state average. Canadian County came in second, with one in every 306 housing units receiving a foreclosure filing — 2.7 times the state average. Creek County was third, with one in every 335 housing units receiving a foreclosure filing — 2.5 times the state average.

 

Tulsa County led the state in total foreclosures for April

Tulsa County led the way, reporting 744 properties with foreclosure filings for the month. Oklahoma County was second highest, documenting 342 properties with foreclosure filings. Reporting 135 properties with foreclosure filings for the month, Canadian County ranked third highest. Washington County was fourth, reporting 128 properties with foreclosure filings. A total of 100 properties with foreclosure filings were reported in Cleveland County, the fifth highest county total in April.

 

State a modest contributor to nation’s month foreclosure total

Oklahoma accounted for 1 percent of the 333,837 properties with foreclosure filings reported nationwide in April. Total U.S. activity declined more than 9 percent from the previous month and was 2 percent below the level reported in April 2009. One in every 387 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.

 

 

Oklahoma Top Foreclosure Rates By County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

n/a

n/a

Oklahoma

0

893

0

618

481

1,992

822

0.47

n/a

 

 

 

 

 

 

 

 

 

 

Washington

0

80

0

0

48

128

181

2.14

4.54

Canadian

0

49

0

53

33

135

306

1.26

2.68

Creek

0

30

0

21

38

89

335

1.15

2.45

Tulsa

0

384

0

178

182

744

356

1.09

2.31

Rogers

0

38

0

29

9

76

418

0.92

1.96

 

 

Oklahoma Top Foreclosure Totals by County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 10

% Chg Apr 09

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

-9.05

-2.40

Oklahoma

0

893

0

618

481

1,992

822

-5.90

69.24

 

 

 

 

 

 

 

 

 

 

Tulsa

0

384

0

178

182

744

356

-12.26

23.18

Oklahoma

0

53

0

269

20

342

944

-13.42

30.53

Canadian

0

49

0

53

33

135

306

8.87

309.09

Washington

0

80

0

0

48

128

181

212.20

12,700.00

Cleveland

0

72

0

24

4

100

1,002

-37.89

4,900.00

 

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved