Oklahoma Foreclosure Activity Slows Down in July

Statewide foreclosure filings down 3 percent from June

 

Foreclosure activity in Oklahoma decreased 3 percent in July to 1,998 properties with foreclosure filings, 30 percent above the level reported in July 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

Oklahoma foreclosures were down in July,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest drop was in default notices, which fell 12 percent during the month. The state continues to hold one of the 10 lowest unemployment rates in the nation. This is definitely contributing to the recent decline.”

 

Oklahoma ranked 30th in the country in total foreclosures reported for the month. With one in every 819 housing units receiving a foreclosure filing, its foreclosure rate ranked 31st among the 50 states.

 

Tulsa County posts top county foreclosure rate in July

Tulsa County posted the highest foreclosure rate, with one in every 346 housing units receiving a foreclosure filing in July. Grady County posted the second highest foreclosure rate, with one in every 368 housing units receiving a foreclosure filing during the month. Coming in third was Rogers County, where one in every 403 housing units received a foreclosure filing in July.

 

Tulsa County dominates state with top foreclosure total for July

Tulsa County led the state in total foreclosure activity, reporting 767 properties with foreclosure filings in July. Second highest Oklahoma County reported 367 properties with foreclosure filings. Cleveland County came in third highest, tallying 187 properties with foreclosure filings. Fourth highest was Canadian County, where 98 properties with foreclosure filings were reported. Rogers County was fifth, reporting 79 properties with foreclosure filings for the month.

 

State contributes 1 percent to nation’s monthly foreclosure total

Oklahoma accounted for 1 percent of the 325,229 properties with foreclosure filings reported nationwide in July. Total U.S. activity increased by more than 3 percent from the previous month but was down almost 10 percent from the level reported in July 2009. One in every 397 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 – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

n/a

n/a

Oklahoma

0

689

0

714

595

1,998

819

0.48

n/a

 

 

 

 

 

 

 

 

 

 

Tulsa

0

321

0

236

210

767

346

1.15

2.37

Grady

0

11

0

21

24

56

368

1.08

2.23

Rogers

0

39

0

25

15

79

403

0.99

2.04

Canadian

0

32

0

40

26

98

422

0.94

1.94

Wagoner

0

34

0

0

31

65

456

0.87

1.80

 

 

Oklahoma Top Foreclosure Totals by County – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

3.63

-9.70

Oklahoma

0

689

0

714

595

1,998

819

-3.29

29.99

 

 

 

 

 

 

 

 

 

 

Tulsa

0

321

0

236

210

767

346

10.52

18.36

Oklahoma

0

68

0

221

78

367

880

8.90

5.76

Cleveland

0

79

0

98

10

187

536

66.96

315.56

Canadian

0

32

0

40

26

98

422

-30.00

139.02

Rogers

0

39

0

25

15

79

403

6.76

-20.00

 

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