Delaware Foreclosures Fall in November

Filings down 19 percent from October

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 467 Delaware properties in November, down 19 percent from the previous month, but still up 5 percent from the level reported in November 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

One in every 841 Delaware housing units received a foreclosure filing in November, the 27th highest state foreclosure rate in the nation.

 

“Foreclosure activity in Delaware dropped significantly in November, although it remained slightly above the level reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statewide unemployment rose during the month to 8.4 percent. Still, the bigger influence on foreclosure levels right now is the fallout from the ‘robo-signing’ controversy, which continues to stall foreclosure filings – at least temporarily – across the nation.”

 

New Castle County has top foreclosure rate and total in November

One in every 736 housing units received a foreclosure filing in New Castle County in November — 1.1 times the state average. New Castle County also led the state in foreclosure activity, reporting 290 proprieties with a foreclosure filing.

 

Sussex County had the second highest foreclosure rate, reporting one in every 1,005 housing units receiving a foreclosure filing. Kent County came in third, with one in every 1,031 housing units receiving a foreclosure filing.

 

Sussex County had the second highest foreclosure total, reporting 116 properties with foreclosure filings. Kent County was third highest, tallying 61 properties with foreclosure filings. 

 

State a minor contributor to total foreclosure total

Delaware accounted for less than 1 percent of the 262,339 properties with foreclosure filings reported nationwide in November. Total U.S. activity decreased by 21 percent from the previous month, and was down more than 14 percent from the level reported in November 2009. One in every 492 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.

 

Delaware Top Foreclosure Rates By County – November 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

39,529

39,426

86,079

29,877

67,428

262,339

492

n/a

n/a

Delaware

0

0

0

296

171

467

841

0.58

n/a

 

 

 

 

 

 

 

 

 

 

New Castle

0

0

0

217

73

290

736

0.67

1.14

Sussex

0

0

0

73

43

116

1,005

0.49

0.84

Kent

0

0

0

6

55

61

1,031

0.48

0.82

 

 

Delaware Top Foreclosure Totals by County – November 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 10

% Chg Nov 09

 

 

 

 

 

 

 

 

 

 

United States

39,529

39,426

86,079

29,877

67,428

262,339

492

-21.02

-14.44

Delaware

0

0

0

296

171

467

841

-18.78

5.42

 

 

 

 

 

 

 

 

 

 

New Castle

0

0

0

217

73

290

736

-13.17

36.79

Sussex

0

0

0

73

43

116

1,005

27.47

-21.62

Kent

0

0

0

6

55

61

1,031

-59.33

-26.51

 

 

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