West Virginia Foreclosure Activity Trends Downward in May

Total foreclosure filings statewide down 30 percent from April

 

West Virginia foreclosure activity fell in May to 101 properties with foreclosure filings, a 30 percent decrease from the previous month, but still a 140 percent increase from May 2008, according to RealtyTrac’s latest U.S. Foreclosure Market Report.

 

“Foreclosure activity decreased in West Virginia in May, though it remained more than double the level reported for the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “As a related matter, unemployment within the state is now on the rise after spending months below the rest of the nation, signaling that additional foreclosures may be on the way.”

 

West Virginia ranked 45th in the country in total properties with foreclosure filings for May. One in every 8,739 West Virginia housing units received a foreclosure filing during the month, ranking 46th among the 50 states.

 

Berkeley County tops in foreclosure activity for May

Berkeley County led the state reporting 26 properties with foreclosure filings for the month. Jefferson County posted the second highest total, where 14 properties with foreclosure filings were reported. Wood County had the third highest total, reporting 10 properties with foreclosure filings.

 

Jefferson County posts state’s highest foreclosure rate for May

Jefferson County posted the highest county foreclosure rate in West Virginia, with one in every 1,545 housing units receiving a foreclosure filing during the month. Berkeley County had the second highest rate, with one in every 1,649 housing units receiving a foreclosure filing. Morgan County posted the third highest rate, where one in every 3,165 housing units received a foreclosure filing during the month.

 

State a minor contributor to nation’s foreclosure activity for May

Foreclosure activity in West Virginia represented less than 1 percent of the 321,480 properties with foreclosure filings reported nationwide in May. Total U.S. activity fell 6 percent from the previous month but was still nearly 18 percent ahead of May 2008. One in every 398 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. 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 filed against a property during the month — which is extremely rare — 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.

 

        West Virginia Foreclosure Market Data by County – May 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Apr 09

% Chg May 08

 

 

 

 

 

 

 

 

 

 

United States

55,442

67,687

100,578

32,756

65,017

321,480

398

– 6.01

17.76

West Virginia

0

0

80

0

21

101

8,739

-30.34

140.48

 

 

 

 

 

 

 

 

 

 

Barbour

0

0

0

0

0

0

n/a

n/a

n/a

Berkeley

0

0

22

0

4

26

1,649

-25.71

2500.00

Boone

0

0

0

0

0

0

n/a

n/a

n/a

Braxton

0

0

0

0

0

0

n/a

n/a

n/a

Brooke

0

0

0

0

0

0

n/a

n/a

n/a

Cabell

0

0

2

0

1

3

15,427

-70.00

-70.00

Calhoun

0

0

0

0

0

0

n/a

n/a

n/a

Clay

0

0

0

0

0

0

n/a

n/a

n/a

Doddridge

0

0

0

0

0

0

n/a

n/a

n/a

Fayette

0

0

3

0

2

5

4,459

66.67

400.00

Gilmer

0

0

0

0

0

0

n/a

n/a

n/a

Grant

0

0

0

0

0

0

n/a

-100.00

n/a

Greenbrier

0

0

1

0

0

1

18,564

0.00

0.00

Hampshire

0

0

0

0

1

1

12,511

-50.00

n/a

Hancock

0

0

0

0

0

0

n/a

n/a

n/a

Hardy

0

0

0

0

0

0

n/a

n/a

n/a

Harrison

0

0

1

0

1

2

15,985

0.00

-33.33

Jackson

0

0

0

0

0

0

n/a

n/a

n/a

Jefferson

0

0

11

0

3

14

1,545

-6.67

1300.00

Kanawha

0

0

9

0

0

9

10,568

-62.50

-35.71

Lewis

0

0

0

0

0

0

n/a

n/a

n/a

Lincoln

0

0

0

0

0

0

n/a

n/a

n/a

Logan

0

0

0

0

0

0

n/a

n/a

n/a

Marion

0

0

6

0

1

7

3,874

40.00

n/a

Marshall

0

0

1

0

1

2

8,020

100.00

n/a

Mason

0

0

0

0

0

0

n/a

n/a

n/a

McDowell

0

0

0

0

0

0

n/a

n/a

n/a

Mercer

0

0

6

0

0

6

5,017

20.00

n/a

Mineral

0

0

0

0

0

0

n/a

-100.00

n/a

Mingo

0

0

0

0

0

0

n/a

n/a

n/a

Monongalia

0

0

2

0

0

2

19,045

-60.00

100.00

Monroe

0

0

0

0

0

0

n/a

n/a

n/a

Morgan

0

0

2

0

1

3

3,165

-25.00

n/a

Nicholas

0

0

0

0

0

0

n/a

n/a

n/a

Ohio

0

0

1

0

1

2

11,079

-50.00

n/a

Pendleton

0

0

0

0

0

0

n/a

n/a

n/a

Pleasants

0

0

0

0

0

0

n/a

n/a

n/a

Pocahontas

0

0

0

0

0

0

n/a

n/a

n/a

Preston

0

0

0

0

0

0

n/a

-100.00

n/a

Putnam

0

0

0

0

0

0

n/a

-100.00

-100.00

Raleigh

0

0

6

0

0

6

6,152

0.00

100.00

Randolph

0

0

0

0

0

0

n/a

n/a

n/a

Ritchie

0

0

1

0

0

1

5,652

n/a

n/a

Roane

0

0

0

0

0

0

n/a

n/a

n/a

Summers

0

0

0

0

0

0

n/a

n/a

n/a

Taylor

0

0

0

0

0

0

n/a

-100.00

n/a

Tucker

0

0

0

0

0

0

n/a

n/a

n/a

Tyler

0

0

0

0

0

0

n/a

-100.00

n/a

Upshur

0

0

1

0

0

1

11,320

-50.00

n/a

Wayne

0

0

0

0

0

0

n/a

-100.00

-100.00

Webster

0

0

0

0

0

0

n/a

n/a

n/a

Wetzel

0

0

0

0

0

0

n/a

n/a

n/a

Wirt

0

0

0

0

0

0

n/a

n/a

n/a

Wood

0

0

5

0

5

10

4,084

42.86

100.00

Wyoming

0

0

0

0

0

0

n/a

n/a

n/a

 

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