Foreclosure Activity in New Hampshire Down for First Half of 2011

Statewide foreclosure filings slide 4 percent from second half of 2010

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 3,768 New Hampshire properties during the first six months of 2011, a 4 percent drop from the second half of 2010 and 17 percent below the level reported for the first half of last year, according to the Midyear 2011 Foreclosure Market Report just released by RealtyTrac®.

 

Foreclosure filings were reported on 624 New Hampshire properties in June, down 3 percent from May and down 18 percent from June 2010. One in every 962 New Hampshire housing units received a foreclosure filing in June, the 25th highest state foreclosure rate in the nation.

 

Hillsborough County posts state’s top foreclosure rate in first half of 2011

Hillsborough County posted the highest foreclosure rate of all New Hampshire counties, with one in every 138 housing units receiving a foreclosure filing in the first half of the year. Rockingham County came in second highest, with a rate of one in every 144 housing units receiving a foreclosure filing up through the midyear period. Belknap County was third highest for the six-month period, with one in every 148 housing units receiving a foreclosure filing.

 

Hillsborough County also dominates state foreclosure totals in first half of year

Hillsborough County also led all counties, reporting 1,182 properties with foreclosure filings for the midyear period. Rockingham County was second highest, reporting 869 properties with foreclosure filings. Merrimack County came in third, tallying 416 properties with foreclosure filings. Fourth highest was Strafford County, where 319 properties with foreclosure filings were reported. Belknap County was fifth, reporting 244 properties with foreclosure filings for the first half of the year.

 

State contributes less than 1 percent to nation’s foreclosure total in first half of 2011

New Hampshire accounted for less than 1 percent of the 1,170,402 properties with foreclosure filings reported nationwide for the first half of 2011. Total U.S. activity decreased 25 percent from the second half of 2010, and was down 29 percent from the level reported for the first half of 2010. One in every 111 U.S. housing units received a foreclosure filing during the first six months of the year.

 

“It would be nice to report that foreclosure activity is dropping as a result of improvements in the economy or the housing market,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unfortunately, with unemployment rates inching back up, consumer confidence weak and home sales and prices continuing to languish, this doesn’t appear to be the case.

 

“Processing and procedural delays are pushing foreclosures further and further out – we estimate that as many as 1 million foreclosure actions that should have taken place in 2011 will now happen in 2012, or perhaps even later. This casts an ominous shadow over the housing market, where recovery is unlikely to happen until the current and forthcoming inventory of distressed properties can be whittled down to a manageable number.”

 

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.

 

 

New Hampshire Market Data By County – Midyear 2011

 

County

Total Properties with Filings

% Housing Units

1 every X HU

% chg July-Dec 10

% chg Jan-June 2010

 

United States

1,170,402

0.90

111

-25.49

-29.27

New Hampshire

3,768

0.63

159

-3.88

-16.78

 

Hillsborough

1,182

0.72

138

-3.35

-20.56

Rockingham

869

0.70

144

-4.92

-15.05

Merrimack

416

0.67

150

0.48

-10.92

Strafford

319

0.63

160

-10.89

-16.49

Belknap

244

0.68

148

-1.61

-19.21

 

 

New Hampshire Market Data by County – June 2011

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg May 11

% Chg June 10

 

 

United States

30,202

33,661

68,023

22,003

68,851

222,740

584

3.64

-29.03

New Hampshire

0

0

362

0

262

624

962

-3.26

-17.89

 

 

Hillsborough

0

0

128

0

68

196

833

0.00

-22.83

Rockingham

0

0

72

0

75

147

850

10.53

-17.88

Merrimack

0

0

42

0

22

64

974

-7.25

-25.58

Strafford

0

0

29

0

27

56

909

5.66

24.44

Belknap

0

0

26

0

15

41

881

-26.79

10.81

 

 

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