Missouri Foreclosure Activity Down in Third Quarter

Filings down less than 1 percent from Q2 2011, down 33 percent from a  year ago

Foreclosure filings — default notices,  scheduled auctions and bank repossessions — were reported on 6,906 Missouri  properties during the third quarter of 2011, down slightly from the second  quarter of 2011 and 33 percent below the level reported for the same quarter  last year, according to the latest RealtyTrac®  U.S. Foreclosure Market Report.

One in every 388 Missouri housing units had a foreclosure  filing during the quarter, the 30th highest foreclosure rate in the  nation.

Foreclosure filings were reported  on 2,321 Missouri  properties in September, a 15 percent decrease from August and down 39 percent  from September 2010. One in every 1,156 Missouri  housing units had a foreclosure filing in September, the 31st  highest state foreclosure rate in the nation.

Jackson County posted top  foreclosure rate for the third quarter
  One in every 198 housing units in Jackson County had a foreclosure filing during  the third quarter of 2011 — 1.1 times the national average and twice the state  average. Clay County had the second highest rate with  one in every 205 housing units reporting a foreclosure filing — on par with the  national average and 1.9 times the state average. Taney County  had the third highest rate, reporting one in every 218 housing units with a  foreclosure filing — on par with the national average and 1.8 times the state  average.

Saint Louis County leads  the state in foreclosure activity for third quarter
  The highest level of foreclosure activity for  the quarter was in Saint Louis   County, where 1,680  properties with foreclosure filings were reported. Jackson County  was second highest in the state, reporting 1,574 properties with foreclosure  filings. Third highest total was tallied in Saint Louis City,  where 728 properties with foreclosure filings were reported. Reporting 590  properties with foreclosure filings for the quarter, Saint Charles County  registered the fourth highest total in the state. Fifth highest was Clay County,  where 463 properties with foreclosure filings were reported for the quarter.

State a minor contributor to  nation’s foreclosure total in the third quarter
  Missouri accounted for 1 percent of the 610,337 properties  with foreclosure filings reported nationwide for the third quarter of 2011.  Total U.S.  activity was up slightly from the second quarter of 2011, but was down 34  percent from the level reported for the same quarter in 2010. One in every 213 U.S. housing  units received a foreclosure filing during the quarter.

“U.S.  foreclosure activity has been mired down since October of last year, when  the robo-signing controversy sparked a flurry  of investigations into lender foreclosure procedures and paperwork,” said  James Saccacio, chief executive  officer of RealtyTrac. “While foreclosure  activity in September and the third quarter continued to register well below levels  from a year ago, there is evidence  that this temporary downward trend is about to  change direction, with foreclosure activity slowly beginning to ramp back  up.”
  “Third quarter foreclosure activity increased marginally from the previous quarter, breaking a  trend of three consecutive quarterly  decreases that started in the fourth quarter of 2010,” Saccacio continued. “This marginal increase in overall  foreclosure activity was fueled by  a 14 percent jump in new default notices, indicating that lenders are cautiously throwing more wood into the  foreclosure fireplace after spending months trying  to clear the chimney of sloppily filed foreclosures.”

 Missouri Top Foreclosure Rates By County – Q3 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

94,849

101,029

163,962

53,967

196,530

610,337

213

n/a

n/a

Missouri

16

0

3,237

0

3,653

6,906

388

0.55

n/a

 

 

 

 

 

 

 

 

 

 

Jackson

0

0

634

0

940

1,574

198

1.07

1.96

Clay

6

0

213

0

244

463

205

1.04

1.89

Taney

1

0

4

0

116

121

218

0.98

1.78

Saint Charles

0

0

294

0

296

590

234

0.91

1.66

Saint Louis City

0

0

411

0

317

728

249

0.85

1.56

Missouri Top Foreclosure Totals by County – Q3 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q2 11

% Chg Q3 10

 

 

 

 

 

 

 

 

 

 

United States

94,849

101,029

163,962

53,967

196,530

610,337

213

0.35

-34.40

Missouri

16

0

3,237

0

3,653

6,906

388

-0.48

-33.13

 

 

 

 

 

 

 

 

 

 

Saint Louis

0

0

1,189

0

491

1,680

259

7.90

-40.36

Jackson

0

0

634

0

940

1,574

198

-6.97

-37.71

Saint Louis City

0

0

411

0

317

728

249

2.82

-29.59

Saint Charles

0

0

294

0

296

590

234

1.20

-20.16

Clay

6

0

213

0

244

463

205

1.76

22.16

 

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