Indiana Foreclosure Activity Drops in November

Statewide filings down 13 percent from October

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 3,115 Indiana properties in November, a 13 percent decrease from October and 18 percent below the level reported for November 2010, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

Indiana had the 20th highest foreclosure rate in the nation, reporting one in every 902 housing units with a foreclosure filing in November.

Marion County posts top foreclosure rate and total in the state for November
 One in every 446 housing units in Marion County had a foreclosure filing in November — 1.3 times the national average and twice the state average — the highest foreclosure rate of all Indiana counties for the month. Marion County also tallied the highest level of foreclosure activity in the state, reporting 943 properties with foreclosure filings for the month.

Wabash County had the second highest rate of one in every 467 housing units with a foreclosure filing during the month — 1.2 times the national average and 1.9 times the state average. Shelby County had the third highest rate of one in every 475 housing units with a foreclosure filing during the month — 1.2 times the state average and 1.9 times the state average.

Lake County had the second highest total, reporting 382 properties with foreclosure filings. Allen County was third, reporting 178 properties with foreclosure filings. Fourth highest was Johnson County, recording 110 properties with foreclosure filings. St. Joseph County was fifth highest, tallying 94 properties with foreclosure filings for the month.

State a moderate contributor to total foreclosure activity in November
 Indiana accounted for 1 percent of the 224,394 properties with foreclosure filings reported nationwide in November. Total U.S. activity decreased by 3 percent from October and was down over 14 percent from the level reported in November 2010. One in every 579 U.S. housing units received a foreclosure filing during the month.

“Despite a seasonal slowdown similar to what we’ve seen in each of the past four years, November’s numbers suggest a new set of incoming foreclosure waves, many of which may roll into the market as REOs or short sales sometime early next year,” said James Saccacio, co-founder of RealtyTrac. “Overall foreclosure activity is down 14 percent from a year ago, the smallest annual decrease over the past 12 months, and some bellwether states such as California, Ohio and Massachusetts actually posted year-over-year increases in foreclosure activity in November.

“Scheduled foreclosure auctions reached a nine-month high in November, corresponding to a recent surge in default notices that began back in August,” Saccacio continued. “Many of the new defaults that started the foreclosure process over the past few months are now being scheduled for public foreclosure auction.”


                                Indiana Top Foreclosure Rates By County – November 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

37,397

34,333

74,100

22,440

56,124

224,394

579

n/a

n/a

Indiana

0

966

0

1,426

723

3,115

902

0.64

n/a

 

 

 

 

 

 

 

 

 

 

Marion

0

417

0

281

245

943

446

1.30

2.02

Wabash

0

0

0

23

8

31

467

1.24

1.93

Shelby

0

0

0

18

22

40

475

1.22

1.90

Howard

0

26

0

28

23

77

512

1.13

1.76

Johnson

0

39

0

37

34

110

516

1.12

1.75

          Indiana Top Foreclosure Totals by County – November 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 11

% Chg Nov 10

 

 

 

 

 

 

 

 

 

 

United States

37,397

34,333

74,100

22,440

56,124

224,394

579

-2.72

-14.46

Indiana

0

966

0

1,426

723

3,115

902

-12.82

-17.53

 

 

 

 

 

 

 

 

 

 

Marion

0

417

0

281

245

943

446

-12.69

-14.58

Lake

0

112

0

236

34

382

553

-8.83

-3.29

Allen

0

113

0

37

28

178

862

-14.01

-1.11

Johnson

0

39

0

37

34

110

516

-25.17

-38.20

St Joseph

0

2

0

76

16

94

1,223

-25.98

-33.80

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