Wisconsin Foreclosure Activity Trends Downward in May

Total foreclosure filings statewide down 9 percent from April

 

Wisconsin foreclosure activity was down in May to 3,502 properties with foreclosure filings, a 9 percent decrease from the previous month, but still 74 percent ahead of May 2008, according to RealtyTrac’s® latest U.S. Foreclosure Market Report.  

 

“Although Wisconsin foreclosures were down in May, the numbers have increased significantly from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s unemployment rate is still just below the national average, it has risen more than 4 percent during the past year. This has definitely been a factor in the overall rise in foreclosure activity.”

 

Wisconsin ranked 20th in the country in total foreclosures reported for the month. With one in every 731 housing units receiving a foreclosure filing, its foreclosure rate ranked 19th among the 50 states.

 

Five counties accounted for 57 percent of state’s foreclosure activity for May

Milwaukee County led all counties, reporting 1,189 properties with foreclosure filings for the month. Waukesha County posted the second highest total, where 239 properties with foreclosure filings were reported. Brown County had the third highest total, reporting 200 properties with foreclosure filings, followed by Racine County, where 179 properties with foreclosure filings were tallied. Dane County held the fifth highest total, where 178 properties with foreclosure filings were reported for the month.

 

Milwaukee County posts state’s highest foreclosure rate for May

Milwaukee County posted the highest county foreclosure rate in Wisconsin, with one in every 345 housing units receiving a foreclosure filing during the month. Polk County had the second highest rate, with one in every 358 housing units receiving a foreclosure filing. Racine County posted the third highest rate, where one in every 452 housing units received a foreclosure filing during the month.

 

State contributes 1 percent to nation’s foreclosure activity for May

Foreclosure activity in Wisconsin represented 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.

 

             Wisconsin 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

Wisconsin

0

1,852

0

995

655

3,502

731

-9.30

74.14

 

 

 

 

 

 

 

 

 

 

Adams

0

2

0

0

9

11

1,483

57.14

1000.00

Ashland

0

5

0

2

2

9

1,045

80.00

 n/a

Barron

0

21

0

14

3

38

615

-25.49

375.00

Bayfield

0

0

0

0

0

0

 n/a

-100.00

 n/a

Brown

0

108

0

48

44

200

512

-10.31

177.78

Buffalo

0

0

0

0

0

0

 n/a

n/a 

n/a 

Burnett

0

0

0

0

1

1

13,866

 n/a

-92.31

Calumet

0

0

0

1

0

1

19,038

-91.67

-83.33

Chippewa

0

14

0

15

7

36

722

33.33

n/a 

Clark

0

1

0

0

2

3

4,832

-82.35

 n/a

Columbia

0

25

0

10

9

44

574

-24.14

4300.00

Crawford

0

6

0

0

0

6

1,509

100.00

 n/a

Dane

0

145

0

1

32

178

1,185

-10.10

66.36

Dodge

0

24

0

23

11

58

631

-21.62

-6.45

Door

0

0

0

6

0

6

3,714

 n/a

500.00

Douglas

0

15

0

0

4

19

1,133

-32.14

375.00

Dunn

0

1

0

0

0

1

17,467

 n/a

n/a 

Eau Claire

0

31

0

27

11

69

600

72.50

590.00

Florence

0

0

0

0

0

0

 n/a

n/a 

n/a 

Fond Du Lac

0

33

0

22

14

69

620

-21.59

3350.00

Forest

0

0

0

0

0

0

 n/a

n/a 

n/a 

Grant

0

0

0

0

0

0

 n/a

-100.00

-100.00

Green

0

1

0

5

2

8

1,957

700.00

n/a 

Green Lake

0

0

0

9

0

9

1,155

 n/a

125.00

Iowa

0

0

0

0

0

0

 n/a

-100.00

n/a 

Iron

0

0

0

0

0

0

 n/a

n/a 

 n/a

Jackson

0

0

0

0

0

0

 n/a

-100.00

 n/a

Jefferson

0

23

0

0

5

28

1,214

-31.71

-15.15

Juneau

0

11

0

0

1

12

1,181

9.09

1100.00

Kenosha

0

74

0

2

42

118

572

-16.31

3833.33

Kewaunee

0

5

0

4

4

13

698

85.71

 n/a

La Crosse

0

18

0

13

11

42

1,119

-20.75

 n/a

Lafayette

0

4

0

0

0

4

1,772

-66.67

 n/a

Langlade

0

0

0

0

1

1

12,083

 n/a

 n/a

Lincoln

0

0

0

0

0

0

 n/a

-100.00

 n/a

Manitowoc

0

27

0

17

5

49

751

22.50

172.22

Marathon

0

1

0

0

8

9

6,307

-92.68

-78.57

Marinette

0

12

0

1

8

21

1,360

-12.50

 n/a

Marquette

0

0

0

1

1

2

4,743

-33.33

 n/a

Menominee

0

0

0

0

0

0

 n/a

-100.00

 n/a

Milwaukee

0

593

0

353

243

1,189

345

6.83

6.35

Monroe

0

0

0

0

0

0

 n/a

 n/a

 n/a

Oconto

0

18

0

5

5

28

810

7.69

 n/a

Oneida

0

0

0

0

2

2

14,584

100.00

 n/a

Outagamie

0

53

0

3

0

56

1,274

-30.86

36.59

Ozaukee

0

26

0

12

6

44

810

12.82

 n/a

Pepin

0

0

0

0

0

0

 n/a

 n/a

 n/a

Pierce

0

0

0

5

1

6

2,598

-78.57

200.00

Polk

0

33

0

23

12

68

358

-38.18

580.00

Portage

0

0

0

0

1

1

29,151

 n/a

 n/a

Price

0

0

0

0

0

0

 n/a

 n/a

 n/a

Racine

0

81

0

75

23

179

452

5.92

65.74

Richland

0

1

0

1

0

2

4,340

100.00

 n/a

Rock

0

96

0

1

6

103

662

-23.13

1960.00

Rusk

0

0

0

0

0

0

 n/a

n/a 

 n/a

Saint Croix

0

0

0

43

2

45

737

-22.41

-2.17

Sauk

0

35

0

15

8

58

495

20.83

176.19

Sawyer

0

0

0

9

0

9

1,727

 n/a

 n/a

Shawano

0

8

0

12

4

24

844

0.00

300.00

Sheboygan

0

65

0

19

10

94

532

1.08

113.64

Taylor

0

7

0

0

1

8

1,149

-11.11

 n/a

Trempealeau

0

0

0

1

11

12

1,046

20.00

 n/a

Vernon

0

8

0

0

1

9

1,521

80.00

 n/a

Vilas

0

0

0

0

3

3

8,204

50.00

 n/a

Walworth

0

0

0

0

1

1

50,267

-97.92

 n/a

Washburn

0

1

0

0

1

2

6,120

-81.82

 n/a

Washington

0

44

0

27

0

71

751

0.00

2266.67

Waukesha

0

88

0

99

52

239

652

65.97

162.64

Waupaca

0

21

0

21

8

50

491

35.14

13.64

Waushara

0

0

0

5

0

5

2,998

-28.57

0.00

Winnebago

0

67

0

45

16

128

557

-43.11

66.23

Wood

0

0

0

0

1

1

33,508

-98.65

0.00

 

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