North Dakota Foreclosure Activity Up Slightly in 2009

Statewide filings up 5 percent from 2008; Down 4 from November

 

North Dakota foreclosures were up in 2009, with 390 properties with foreclosure filings, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The yearly total represents a 5 percent increase from the total reported for 2008, and is 56 percent higher than the level reported for all of 2007.

 

“North Dakota foreclosures remained virtually unchanged last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “This is no surprise as the state continues to hold the lowest unemployment rate. Home sales are also picking up. If these trends continue, we may see foreclosures decline here in 2010.”

 

North Dakota ranked 49th in total foreclosures reported for 2009 when compared to the 50 states. With one in every 796 housing units receiving a foreclosure filing, North Dakota’s foreclosure rate also ranked 49th in the nation for the year.

 

Reporting 44 properties with foreclosure filings for December, North Dakota had a 4 percent decrease from the previous month, but had no change from December 2008. The state’s foreclosure rate — one in every 7,058 housing units received a foreclosure filing — ranked 48th in the nation for the month.

 

Cass County posts state’s highest foreclosure rate for 2009

Cass County posted the highest county foreclosure rate in the state for the year, with one in every 346 housing units receiving a foreclosure filing in 2009. Richland County had the second highest foreclosure rate, with one in every 350 housing units receiving a foreclosure filing. Grand Forks County came in third highest, with one in every 497 housing units receiving a foreclosure filing. Sargent County was fourth highest, with one in every 522 housing units receiving a foreclosure filing, followed by Foster County, with one in every 597 housing units receiving a foreclosure filing.

 

Cass County also led state in foreclosure activity in 2009

Cass County also led the state in total foreclosures in 2009, reporting a total of 186 properties with foreclosure filings for the year. Grand Forks County came in second, documenting 59 properties with foreclosure filings. Burleigh Forks County had the third highest total in the state, reporting 35 properties with foreclosure filings for the year. Richland County was fourth highest, reporting 22 properties with foreclosure filings, followed by Morton County in fifth place, tallying 19 properties with foreclosure filings for all of 2009.

 

State contributes less than 1 percent to nation’s foreclosure total in 2009

North Dakota accounted for less than 1 percent of the 2,824,674 properties with foreclosure filings reported nationwide in 2009. Total U.S. activity increased more than 21 percent over the level reported for all of 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.

 

 

North Dakota Top Foreclosure Rates by County: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

%Chg

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

North Dakota

390

0.13

796

5.12

56.00

 

 

 

 

 

 

Cass

186

0.29

346

 

52.46

Richland

22

0.29

350

46.67

37.50

Grand Forks

59

0.20

497

28.26

555.56

Sargent

4

0.19

522

 

 

Foster

3

0.17

597

50.00

 

 

 

North Dakota Top Foreclosure Totals by County: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

% Chg  

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

North Dakota

390

0.13

796

5.12

56.00

 

 

 

 

 

 

Cass

186

0.29

346

 

52.46

Grand Forks

59

0.20

497

28.26

555.56

Burleigh

35

0.11

944

20.69

150.00

Richland

22

0.29

350

46.67

37.50

Morton

19

0.16

616

90.00

216.67

 

 

North Dakota Top Foreclosure Rates by County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

n/a

n/a

North Dakota

0

1

0

17

26

44

7,058

0.05

n/a

 

 

 

 

 

 

 

 

 

 

Sargent

0

0

0

2

1

3

695

0.53

10.15

Nelson

0

0

0

0

1

1

2,019

0.18

3.50

Richland

0

0

0

0

3

3

2,570

0.14

2.75

Morton

0

1

0

0

3

4

2,925

0.13

2.41

Mchenry

0

0

0

1

0

1

3,025

0.12

2.33

 

 

North Dakota Top Foreclosure Totals by County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Nov 09

% Chg Dec 08

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

13.99

15.20

North Dakota

0

1

0

17

26

44

7,058

-4.35

0.00

 

 

 

 

 

 

 

 

 

 

Cass

0

0

0

9

10

19

3,389

 

-26.92

Grand Forks

0

0

0

2

6

8

3,669

-11.11

 

Morton

0

1

0

0

3

4

2,925

300

300

Sargent

0

0

0

2

1

3

695

 

 

Richland

0

0

0

0

3

3

2,570

 

200

 

 

 

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