Oklahoma Foreclosure Activity Increases in January

Statewide filings up 5 percent from December; Up 82 percent from a year ago

 

Foreclosure activity in Oklahoma increased in January to 1,773 properties with foreclosure filings, a 5 percent increase from December 2009 and up 82 percent from January 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Oklahoma foreclosures increased slightly in January,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in default notices, which climbed 87 percent during the month. The state’s unemployment is low and home values here actually showed a small increase last year. If these trends continue, we may see foreclosures start to decline here in the near future.”

 

Oklahoma ranked 31st in the country in total foreclosures reported for the month. With one in every 923 housing units receiving a foreclosure filing, its foreclosure rate ranked 33rd among the 50 states.

 

Canadian County posts top foreclosure rate in the state for January

Canadian County posted the state’s highest county foreclosure rate in January, with one in every 162 housing units receiving a foreclosure filing — 5.7 times the state average. Tulsa County was second, with one in every 398 housing units receiving a foreclosure filing — 2.3 times the state average. Cleveland County came in third highest, with one in every 453 housing units receiving a foreclosure filing — twice the state average. Wagoner County posted the fourth highest foreclosure rate, where one in every 618 housing units received a foreclosure filing during the month — 1.5 times the state average. Oklahoma County documented the fifth highest foreclosure rate, where one in every 904 housing units received a foreclosure filing during the month.

 

Tulsa County dominates state in total foreclosure filings for January

Tulsa County led all counties, totaling 666 properties with foreclosure filings for the month. Oklahoma County was second highest, documenting 357 properties with foreclosure filings. Reporting 256 properties with foreclosure filings for the month, Canadian County had the third highest total. Cleveland County came in fourth highest, reporting 221 properties with foreclosure filings, followed by Wagoner County where 48 properties with foreclosure filings were reported.

 

State responsible for less than one percent of nation’s foreclosure total in January

Oklahoma accounted for less than one 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: DefaultNotice 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 – 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

Oklahoma

0

835

0

603

335

1,773

923

0.44

n/a

 

 

 

 

 

 

 

 

 

 

Canadian

0

191

0

10

55

256

162

2.51

5.71

Tulsa

0

349

0

187

130

666

398

1.02

2.32

Cleveland

0

176

0

41

4

221

453

0.89

2.04

Wagoner

0

24

0

0

24

48

618

0.66

1.49

Oklahoma

0

24

0

304

29

357

904

0.45

1.02

 

           

 

Oklahoma 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

Oklahoma

0

835

0

603

335

1,773

923

5.47

82.22

 

 

 

 

 

 

 

 

 

 

Tulsa

0

349

0

187

130

666

398

1.06

124.24

Oklahoma

0

24

0

304

29

357

904

-0.56

162.50

Canadian

0

191

0

10

55

256

162

132.73

700.00

Cleveland

0

176

0

41

4

221

453

163.10

1600.00

Wagoner

0

24

0

0

24

48

618

71.43

77.78

 

 

 

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