Washington Foreclosure Activity Declines in February

Statewide filings decrease 24 percent from January

 

Foreclosure activity in Washington declined in February to 2,670 properties with foreclosure filings, down 24 percent from the previous month and 13 percent below the level reported in February 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity fell significantly in Washington in February to a level well below what was reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment recently rose slightly o 9.5 percent in the Evergreen State, but remains below the national average, helping to keep foreclosures somewhat at bay.”   

 

One in every 1,046 Washington housing units received a foreclosure filing in February, the 33rd highest rate in the nation.

 

Snohomish County posts top foreclosure rate in the state for February

Snohomish County posted the state’s highest county foreclosure rate in February, with one in every 563 housing units receiving a foreclosure filing — 1.9 times the state average. Pierce County was second, with one in every 582 housing units receiving a foreclosure filing — 1.8 times the state average. Clark County came in third highest, with one in every 637 housing units receiving a foreclosure filing — 1.6 times the state average.

 

King County led the state in total foreclosures in February

King County led the way, totaling 651 properties with foreclosure filings for the month. Pierce County was second, documenting 552 properties with foreclosure filings. Snohomish County ranked third highest, reporting 498 properties with foreclosure filings for the month. Clark County came in fourth place, reporting 255 properties with foreclosure filings, while the fifth highest total was in Kitsap County, where 108 properties with foreclosure filings were reported for the month.

 

State a moderate contributor to nation’s month foreclosure total

Washington accounted for 1 percent of the 308,524 properties with foreclosure filings reported nationwide in February. Total U.S. activity declined more than 2 percent from the previous month but was still 6 percent ahead of February 2009. One in every 418 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.

 

 

Washington Top Foreclosure Rates By County – February 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

46,207

60,001

84,641

38,992

78,683

308,524

418

n/a

n/a

Washington

0

0

1,513

0

1,157

2,670

1,046

0.40

n/a

 

 

 

 

 

 

 

 

 

 

Snohomish

0

0

287

0

211

498

563

0.74

1.86

Pierce

0

0

358

0

194

552

582

0.72

1.80

Clark

0

0

169

0

86

255

637

0.66

1.64

Mason

0

0

28

0

17

45

645

0.65

1.62

Skagit

0

0

42

0

29

71

690

0.61

1.52

 

 

Washington Top Foreclosure Totals by County – February 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Jan 10

% Chg Feb 09

 

 

 

 

 

 

 

 

 

 

United States

46,207

60,001

84,641

38,992

78,683

308,524

418

-2.28

6.22

Washington

0

0

1,513

0

1,157

2,670

1,046

-23.61

-13.20

 

 

 

 

 

 

 

 

 

 

King

0

0

309

0

342

651

1,280

-26.02

-32.96

Pierce

0

0

358

0

194

552

582

-14.55

-20.46

Snohomish

0

0

287

0

211

498

563

-10.27

4.18

Clark

0

0

169

0

86

255

637

-19.81

-34.28

Kitsap

0

0

62

0

46

108

945

-16.92

163.41

 

 

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