Utah Foreclosure Activity Declines in January

Statewide filings down 12 percent from December; Up 128 percent from a year ago

 

Foreclosure activity in Utah decreased in January to 4,087 properties with foreclosure filings, a 12 percent decline from December 2009, but still up 128 percent from January 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Utah foreclosures were down in January,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decrease was in auctions, which dropped 31 percent. The state continues to hold one of the lower unemployment rates and home sales increased significantly during the fourth quarter. If these trends continue, we may see foreclosures continue to decline in Utah.”

 

Utah ranked 19th in the country in total foreclosures reported for the month. With one in every 231 housing units receiving a foreclosure filing, its foreclosure rate ranked fifth among the 50 states.

 

Washington County posts top foreclosure rate in the state for January

Washington County posted the state’s highest county foreclosure rate in January, with one in every 134 housing units receiving a foreclosure filing — three times the national average. Iron County was second, with one in every 135 housing units receiving a foreclosure filing — three times the national average. Wasatch County came in third highest, with one in every 153 housing units receiving a foreclosure filing — 2.6 times the national average. Uintah County posted the fourth highest foreclosure rate, where one in every 159 housing units received a foreclosure filing during the month — 2.6 times the national average. Summit County documented the fifth highest foreclosure rate, where one in every 177 housing units received a foreclosure filing during the month— 2.3 times the national average.

 

Salt Lake County dominates state in total foreclosure filings for January

Salt Lake County led all counties, totaling 1,784 properties with foreclosure filings for the month. Utah County was second highest, documenting 794 properties with foreclosure filings. Reporting 422 properties with foreclosure filings for the month, Washington County had the third highest foreclosure total. Weber County came in fourth highest, reporting 298 properties with foreclosure filings, followed by Davis County where 156 properties with foreclosure filings were reported.

 

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

Utah 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.

 

 

Utah 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

Utah

1,757

0

1,135

0

1,195

4,087

231

1.77

n/a

 

 

 

 

 

 

 

 

 

 

Washington

129

0

125

0

168

422

134

3.02

1.72

Iron

41

0

19

0

78

138

135

3.00

1.71

Wasatch

20

0

18

0

25

63

153

2.64

1.51

Uintah

1

0

40

0

27

68

159

2.55

1.45

Summit

80

0

3

0

48

131

177

2.29

1.30

 

           

 

Utah 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

Utah

1,757

0

1,135

0

1,195

4,087

231

-11.50

128.20

 

 

 

 

 

 

 

 

 

 

Salt Lake

916

0

488

0

380

1,784

200

-2.14

135.36

Utah

391

0

155

0

248

794

180

13.11

315.71

Washington

129

0

125

0

168

422

134

-7.05

38.36

Weber

98

0

101

0

99

298

278

-36.86

17.79

Davis

5

0

100

0

51

156

603

-43.07

-20.00

 

 

 

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