It’s time once again to expand on our preview of foreclosure activity with a more detailed look at November’s stats in King, Snohomish, and Pierce counties. First up, the Notice of Trustee Sale summary:
King: 890 NTS, up 14% YOY
Snohomish: 461 NTS, up 19% YOY
Pierce: 590 NTS, up 30% YOY
Even despite the “freeze” in foreclosures, all three counties still turned in year-over-year gains, since we’re currently comparing to the post-legislation lull in 2009.
Here’s your interactive Tableau dashboard updated with the latest foreclosure data:
Since the foreclosure “freeze” didn’t even last a full month, I suspect that we’ll shoot right back up to the recent trend in December.
The percentage of households in the chart above is determined using OFM population estimates and household sizes from the 2000 Census. King County came in at 1 NTS per 919 households, Snohomish County had 1 NTS per 587 households, and Pierce had 1 NTS for every 539 households (higher is better).
According to foreclosure tracking company RealtyTrac, Washington’s statewide foreclosure rate for November of one foreclosure for every 686 housing units was 17th hightest among the 50 states and the District of Columbia (down from 14th in October). Note that RealtyTrac’s definition of “in foreclosure” is much broader than what we are using, and includes Notice of Default, Lis Pendens, Notice of Trustee Sale, and Real Estate Owned.
Hit the jump for a larger version of the chart that shows the percentage of households in each county receiving a foreclosure notice each month:
Up, down, up, down…
Note: The graphs above are derived from monthly Notice of Trustee Sale counts gathered at King, Snohomish, and Pierce County records. For a longer-term picture of King County foreclosures back to 1979, hit this chart and drag the date slider to its full range. For the full legal definition of what a Notice of Trustee Sale is and how it fits into the foreclosure process, check out RCW 61.24.040. The short version is that it is the notice sent to delinquent borrowers that their home will be repossessed in 90 days.