Missouri Foreclosures Up in 2010

Foreclosure filings rise 19 percent from 2009

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 33,944 Missouri properties for 2010, up 19 percent from a year ago and 9 percent above the level reported for 2008, according to the RealtyTrac® Year-End 2010 U.S. Foreclosure Market Report™.

 

Foreclosure filings were reported on 3,173 Missouri properties in December 2010, a 6 percent decrease from November, but still a slightly above the level reported in December 2009. One in every 840 Missouri housing units received a foreclosure filing during the month.

 

“Missouri foreclosure activity rose in 2010 to a level above what was reported for both 2009 and 2008,” said James J. Saccacio, chief executive officer of RealtyTrac. “Joblessness remained high but relatively steady at 9.5 percent going into the end of 2010, leaving residents some hope that an economic turnaround may be on the way to slow down the state’s mounting pile of foreclosure notices.”

 

One in every 78 Missouri housing units received a foreclosure filing in 2010, the 28th highest state foreclosure rate in the nation for the year.

 

Jackson County posts state’s top foreclosure rate in 2010

Jackson County posted the highest foreclosure rate in Missouri in 2010, with one in every 37 housing units receiving a foreclosure filing — 2.1 times the state average. Saint Louis County came in second, with one in every 50 housing units receiving a foreclosure filing in 2010 — 1.6 times the state average. The next highest was Jefferson County, where one in every 52 housing units received a foreclosure filings during the year — 1.5 times the state average.

 

Saint Louis County led the state in foreclosure activity in 2010

Saint Louis County led Missouri in foreclosure activity, reporting 8,777 properties with foreclosure filings. Jackson County had the second highest total, with 8,545 properties with foreclosure filings. Saint Louis City was third highest, reporting 3,238 properties with foreclosure filings for the year. Saint Charles County came in fourth, tallying 2,458 properties with foreclosure filings. Fifth highest total for the year was in Greene County, where 1,879 properties with foreclosure filings were reported.

 

State a minor contributor to total foreclosure activity in 2010

Missouri accounted for 1 percent of the 2,871,891 properties with foreclosure filings reported nationwide for 2010. Total U.S. activity increased by almost 2 percent from 2009, and was more than 23 percent above the level reported in 2008. One in every 45 U.S. housing units received a foreclosure filing during the year.

 

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: Year-End 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

223,094

538,099

759,560

312,085

1,039,053

2,871,891

45

n/a

n/a

Missouri

66

0

15,048

0

18,830

33,944

78

0.57

n/a

 

 

 

 

 

 

 

 

 

 

Jackson

0

0

3,236

0

5,309

8,545

37

1.21

2.11

Saint Louis

0

0

5,553

0

3,224

8,777

50

0.90

1.58

Jefferson

0

0

1,206

0

492

1,698

52

0.87

1.52

Saint Charles

0

0

1,506

0

952

2,458

56

0.81

1.41

Saint Louis City

0

0

1,671

0

1,567

3,238

56

0.80

1.40

 

 

Missouri Top Foreclosure Totals by County: Year-End 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg 2009

% Chg 2008

 

 

 

 

 

 

 

 

 

 

United States

223,094

538,099

759,560

312,085

1,039,053

2,871,891

45

1.67

23.23

Missouri

66

0

15,048

0

18,830

33,944

78

19.02

8.61

 

 

 

 

 

 

 

 

 

 

Saint Louis

0

0

5,553

0

3,224

8,777

50

15.02

0.33

Jackson

0

0

3,236

0

5,309

8,545

37

9.17

20.34

Saint Louis City

0

0

1,671

0

1,567

3,238

56

-2.73

-23.25

Saint Charles

0

0

1,506

0

952

2,458

56

14.06

19.73

Greene

14

0

814

0

1,051

1,879

66

-1.73

19.45

 

 

 

Missouri Top Foreclosure Rates By County: December 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

36,935

38,783

88,483

23,699

69,847

257,747

501

n/a

n/a

Missouri

6

0

1,874

0

1,293

3,173

840

0.60

n/a

 

 

 

 

 

 

 

 

 

 

Jackson

0

0

456

0

365

821

387

1.29

2.17

Jefferson

0

0

159

0

15

174

503

1.00

1.67

Saint Charles

0

0

158

0

95

253

542

0.92

1.55

Greene

0

0

109

0

111

220

561

0.89

1.50

Saint Louis City

0

0

192

0

103

295

613

0.82

1.37

 

 

Missouri Top Foreclosure Totals by County: December 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Nov 10

% Chg Dec 09

 

 

 

 

 

 

 

 

 

 

United States

36,935

38,783

88,483

23,699

69,847

257,747

501

-1.75

-26.26

Missouri

6

0

1,874

0

1,293

3,173

840

-6.01

0.22

 

 

 

 

 

 

 

 

 

 

Jackson

0

0

456

0

365

821

387

7.32

-14.30

Saint Louis

0

0

553

0

154

707

617

-16.13

-8.06

Saint Louis City

0

0

192

0

103

295

613

7.27

-4.84

Saint Charles

0

0

158

0

95

253

542

10.00

23.41

Greene

0

0

109

0

111

220

561

5.77

-32.72

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