Missouri Foreclosure Activity Falls in February

Statewide filings down 6 percent from January

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 2,376 Missouri properties in February, a 6 percent decrease from January and 29 percent below the level reported for February 2011, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

Missouri had the 26th highest foreclosure rate in the nation, reporting one in every 1,142 housing units with a foreclosure filing in February.

Saint Charles County posts top foreclosure rate in the state for February
 One in every 517 housing units in Saint Charles County had a foreclosure filing in February — 1.2 times the national average and 2.2 times the state average — the highest foreclosure rate of all Missouri counties for the month. Saint Louis City had the second highest rate of one in every 530 housing units with a foreclosure filing during the month — 1.2 times the national average and 2.2 times the state average. Jefferson County had the third highest rate of one in every 576 housing units with a foreclosure filing during the month — 1.1 times the national average and on par with the state average.

Saint Louis County has top foreclosure total in February
 Saint Louis County led the state in foreclosure activity, reporting 711 properties with foreclosure filings for the month. Jackson County was second highest, reporting 517 properties with foreclosure filings. Saint Louis City was third, reporting 332 properties with foreclosure filings. Fourth highest was Saint Charles County, recording 273 properties with foreclosure filings. Jefferson County was fifth, tallying 152 properties with foreclosure filings for the month.

State a moderate contributor to total foreclosure activity in February
 Missouri accounted for 1 percent of the 206,900 properties with foreclosure filings reported nationwide in February. Total U.S. activity decreased by 2 percent from January and was down over 8 percent from the level reported in February 2011. One in every 637 U.S. housing units received a foreclosure filing during the month.

“February’s numbers point to a gradually rising foreclosure tide as some of the barriers that have been holding back foreclosures are removed,” said Brandon Moore, CEO of RealtyTrac. “Although national foreclosure activity was pushed lower by decreases in a handful of larger states, 21 states posted annual increases in foreclosure activity, the most states with annual increases since November 2010.

“The foreclosure and mortgage settlement filed in court earlier this week will help pave the way to a properly functioning foreclosure process by providing a clear roadmap for necessary foreclosures,” Moore continued. “That should result in more states posting annual increases in the coming months. Not surprisingly, many of the biggest annual increases in February were in states with the more bureaucratic judicial foreclosure process, which resulted in a larger backlog of foreclosures built up over the last 18 months in those states.”

 

Missouri Top Foreclosure Rates By County – February 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

23,058

35,828

60,700

23,480

63,834

206,900

637

n/a

n/a

Missouri

0

0

1,228

0

1,148

2,376

1,142

0.56

n/a

 

 

 

 

 

 

 

 

 

 

Saint Charles

0

0

129

0

144

273

517

1.23

2.21

Saint Louis City

0

0

147

0

185

332

530

1.20

2.15

Jefferson

0

0

97

0

55

152

576

1.10

1.98

Jackson

0

0

280

0

237

517

604

1.05

1.89

Saint Louis

0

0

420

0

291

711

616

1.03

1.85

 Missouri Top Foreclosure Totals by County – February 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Jan 12

% Chg Feb 11

 

 

 

 

 

 

 

 

 

 

United States

23,058

35,828

60,700

23,480

63,834

206,900

637

-1.92

-8.09

Missouri

0

0

1,228

0

1,148

2,376

1,142

-5.90

-28.80

 

 

 

 

 

 

 

 

 

 

Saint Louis

0

0

420

0

291

711

616

6.28

15.05

Jackson

0

0

280

0

237

517

604

-21.19

-61.27

Saint Louis City

0

0

147

0

185

332

530

17.73

28.19

Saint Charles

0

0

129

0

144

273

517

32.52

34.48

Jefferson

0

0

97

0

55

152

576

13.43

27.73

 

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