Missouri Foreclosure Activity Rises in August

Filings increase 7 percent from July

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 4,084 Missouri properties in August, a 7 percent increase from the previous month and a 63 percent increase from August 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

“Missouri reported a hike in foreclosure filings in August, bringing activity to well above the level reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Closely associated with this trend is Missouri’s rising unemployment rate, which climbed to 9.3 percent in August even as the state added new jobs.”

 

The state reported the 23rd highest state foreclosure rate, as one in every 652 Missouri housing units received a foreclosure filing during the month.

 

Jackson County leads the state in foreclosure rate for August

Jackson County, where one in every 332 housing units received a foreclosure filing during the month, posted the top foreclosure rate in Missouri. One in every 382 housing units received a foreclosure filing in Jefferson County, for the second highest rate in the state. Coming in third was Saint Louis County, where one in every 387 housing units received a foreclosure filing in August. Fourth highest was Cass County, where one in every 393 housing units received a foreclosure filing. Saint Louis City came in fifth, with one in every 444 housing units receiving a foreclosure filing during the month.

 

Saint Louis County posts top foreclosure total for August

Saint Louis County led Missouri in total foreclosure activity for August, reporting 1,126 properties with foreclosure filings. Jackson County documented the second highest foreclosure activity, where 958 properties with foreclosure filings were reported. Saint Louis City came in third, tallying 407 properties with foreclosure filings. Fourth highest was Saint Charles County, where 272 properties with foreclosure filings were reported. Greene County came in fifth, reporting 246 properties with foreclosure filings for the month.

 

State a minor contributor to nation’s monthly foreclosure total

Missouri accounted for 1 percent of the 338,836 properties with foreclosure filings reported nationwide in August. Total U.S. activity increased by more than 4 percent from the previous month, but was down more than 5 percent from the level reported in August 2009. One in every 381 U.S. housing units received a foreclosure filing during the month.

 

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.

 

 

Missouri Top Foreclosure Rates By County – August 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,887

51,582

95,887

51,116

95,364

338,836

381

n/a

n/a

Missouri

5

0

2,208

0

1,871

4,084

652

0.58

n/a

 

 

 

 

 

 

 

 

 

 

Jackson

0

0

547

0

411

958

332

1.15

1.96

Jefferson

0

0

174

0

55

229

382

1.00

1.71

Saint Louis

0

0

736

0

390

1,126

387

0.98

1.68

Cass

1

0

3

0

96

100

393

0.97

1.66

Saint Louis City

0

0

264

0

143

407

444

0.86

1.47

 

 

Missouri Top Foreclosure Totals by County – August 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

44,887

51,582

95,887

51,116

95,364

338,836

381

4.18

-5.48

Missouri

5

0

2,208

0

1,871

4,084

652

7.11

63.49

 

 

 

 

 

 

 

 

 

 

Saint Louis

0

0

736

0

390

1,126

387

7.03

65.59

Jackson

0

0

547

0

411

958

332

-15.30

52.06

Saint Louis City

0

0

264

0

143

407

444

4.90

37.97

Saint Charles

0

0

207

0

65

272

504

-2.51

21.97

Greene

1

0

132

0

113

246

501

4.68

21.18

 

 

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