St. Louis Foreclosure Activity in 2011 Down by Over 25 Percent from 2010

Dennis Norman, St Louis REALTOR - St Louis Foreclosures, St Louis REO'sSt. Louis foreclosure activity in 2011 declined 25.22 percent from the year before according to RealtyTrac’s foreclosure market report for 2011 that was just released.

As the chart below depicts, of the seventeen counties in the St. Louis metro area,  all but five saw a decrease in foreclosure activity from the year before, and ten of the 17 saw a decrease from 2009.

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St. Louis MSA Foreclosures for 2011

Report Highlights:

  • The average time expended during the foreclosure process for Missouri increased the 4th quarter of 2011 to 213 days, setting a new record for length.  This represents an increase of over 80 percent from the 4th quarter of 2010.
  • St. Louis ranked 98th of the metro areas in the U.S. for rate of foreclosure in 2011.
  • Missouri ranked 28th in the U.S. for 2011 foreclosure rates with 1 in every 439 homes receiving a foreclosure notice during the year.
  • The Jackson County (KC) had the highest foreclosure rate in the State of Missouri with 1 in every 237 homes receiving a foreclosure notice in 2011.  Coming in a close 2nd was St. Louis county with one in every 239 homes and the City of St Louis with one in every 241 homes receiving a foreclosure action in 2o11.
  • Several counties in Missouri did not receive any foreclosure notices in 2011 at all including Wright, Worth, Shannon, Shuyler, Reynolds, Pemiscot,  Monroe, Linn, Knox, Holt, Harrison, Carter, Bollinger and Atchison.

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