Utah Foreclosure Activity Rises in April

Statewide foreclosure filings up 1 percent from March

 

Monthly foreclosure activity in Utah rose in April, up 1 percent from the previous month to 4,266 properties with foreclosure filings. This latest state total also represents a 44 percent year-over-year increase in foreclosure filings from April 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state had the fifth highest state foreclosure rate in the nation with one in 221 Utah housing units receiving a foreclosure filing during the month.

 

“Foreclosure filings inched up slightly in Utah in April, bringing activity to well above what it was at this time last year in the Beehive State,” said James J. Saccacio, chief executive officer of RealtyTrac. “That said, unemployment has begun to slow within the state, leading some to believe a dip in foreclosure filings is on the way.”

 

Uintah County posts top foreclosure rate for April

Uintah County posted the highest county foreclosure rate in Utah for April, with one in every 93 housing units receiving a foreclosure filing — 4.1 times the national average. Tooele County came in second, with one in every 126 housing units receiving a foreclosure filing — 3.1 times the national average. Washington County was third, with one in every 140 housing units receiving a foreclosure filing — 2.8 times the national average.

 

Salt Lake County led the state in total foreclosures for April

Salt Lake County led the way, reporting 1,885 properties with foreclosure filings for the month. Utah County was second highest, documenting 698 properties with foreclosure filings. Reporting 481 properties with foreclosure filings for the month, Weber County ranked third highest. Washington County was fourth, reporting 404 properties with foreclosure filings. A total of 179 properties with foreclosure filings were reported in Davis County, the fifth highest county total in April.

 

State a modest contributor to nation’s month foreclosure total

Utah 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.

 

 

Utah 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

Utah

1,484

22

1,627

0

1,133

4,266

221

1.75

n/a

 

 

 

 

 

 

 

 

 

 

Uintah

2

0

80

0

34

116

93

4.14

2.37

Tooele

0

22

97

0

30

149

126

3.07

1.76

Washington

96

0

164

0

144

404

140

2.76

1.58

Wasatch

16

0

12

0

31

59

164

2.36

1.35

Weber

66

0

289

0

126

481

172

2.24

1.28

 

 

Utah 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

Utah

1,484

22

1,627

0

1,133

4,266

221

1.38

43.68

 

 

 

 

 

 

 

 

 

 

Salt Lake

811

0

669

0

405

1,885

189

4.43

77.16

Utah

347

0

153

0

198

698

205

2.20

-16.21

Weber

66

0

289

0

126

481

172

60.33

130.14

Washington

96

0

164

0

144

404

140

-11.21

-9.01

Davis

0

0

125

0

54

179

526

-34.91

-17.51

 

 

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