Louisiana Foreclosure Activity Drops in November

Statewide filings down 2 percent from October

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 1,585 Louisiana properties in November, a 2 percent decrease from October, but still 12 percent above the level reported for November 2010, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

Louisiana had the 27th highest foreclosure rate in the nation, reporting one in every 1,239 housing units with a foreclosure filing in November.

Saint Tammany Parish posts top foreclosure rate in the state for November
 One in every 399 housing units in Saint Tammany Parish had a foreclosure filing in November – 1.5 times the national average and 3.1 times the state average — the highest foreclosure rate of all Louisiana counties for the month. Livingston Parish had the second highest rate of one in every 502 housing units with a foreclosure filing during the month — 1.2 times the national average and 2.5 times the state average. Lafayette Parish had the third highest rate of one in every 656 housing units with a foreclosure filing during the month — 1.9 times the state average.

Jefferson Parish has the highest foreclosure total in November
 Jefferson Parish tallied the highest level of foreclosure activity in the state, reporting 267 properties with foreclosure filings for the month. Saint Tammany Parish had the second highest total, reporting 245 properties with foreclosure filings. Orleans Parish was third, reporting 222 properties with foreclosure filings. Fourth highest was East Baton Rouge Parish, recording 199 properties with foreclosure filings. Lafayette Parish was fifth highest, tallying 139 properties with foreclosure filings for the month.

State a moderate contributor to total foreclosure activity in November
 Louisiana 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 Louisiana 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.”

 Louisiana Top Foreclosure Rates By County – November 2011

Parish

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

Louisiana

0

359

0

711

515

1,585

1,239

0.47

n/a

 

 

 

 

 

 

 

 

 

 

Saint Tammany

0

84

0

107

54

245

399

1.45

3.10

Livingston

0

31

0

13

51

95

502

1.15

2.47

Lafayette

0

37

0

55

47

139

656

0.88

1.89

Jefferson

0

111

0

100

56

267

681

0.85

1.82

Orleans

0

0

0

126

96

222

755

0.77

1.64

 Louisiana Top Foreclosure Totals by County – November 2011

Parish

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

Louisiana

0

359

0

711

515

1,585

1,239

-2.10

11.78

 

 

 

 

 

 

 

 

 

 

Jefferson

0

111

0

100

56

267

681

6.37

52.57

Saint Tammany

0

84

0

107

54

245

399

-20.20

12.39

Orleans

0

0

0

126

96

222

755

16.84

39.62

East Baton Rouge

0

0

0

131

68

199

956

-5.24

-13.10

Lafayette

0

37

0

55

47

139

656

98.57

32.38

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