In 2019 St Louis Had The 8th Highest Foreclosure Rate of The 20 Largest MSA’s

Foreclosure rates and mortgage delinquency rates have steadily declined over the past couple of years as the housing market, as well as the overall economy, have both continued to improve and thrive.  Nonetheless, foreclosures still take place and during 2019 the St Louis MSA had the 8th highest foreclosure rate of the 20 largest MSAs, according to the latest data released by Attom Data Solutions.

As the table below shows, during 2019, in the St Louis MSA there was 1 foreclosure action for every 232 housing units.  Philadelphia, PA, had the highest foreclosure rate of the 20-largest MSAs with one foreclosure action for every 133 housing units and San Francisco had the lowest with one foreclosure action for every 631 housing units.

  

2019 Foreclosure Rates – 20 Largest MSAs

2019 Foreclosure Rates – 20 Largest MSAs

Copyright 2020 – St Louis Real Estate News – All rights reserved – Data Source ATTOM Data Solutions

St Louis Foreclosures Decline In Third Quarter Over 27 Percent From Year Ago

The St Louis foreclosure rate during the 3rd quarter of this year was 1 in every 766 housing units, a decline of nearly 1% from the prior quarter and a decline of over 27% from a year ago, according to data just released from ATTOM Data Solutions.  As the table below shows, 6 of the counties in the St Louis MSA saw an increase in the foreclosure rate during the 3rd quarter from the prior quarter and only two counties saw an increase from a year ago.

  

St Louis MSA Foreclosures – 3rd Quarter 2019

St Louis MSA Foreclosures - 3rd Quarter 2019

St Louis Foreclosure Rate Drops In August – Down Nearly One Third From Year Ago

During August there was one foreclosure action for every 2,040 housing units in the St Louis MSA, a decline of 6.43% from the month before and a decline of 32.78% from a year ago, according to data just released from ATTOM Data Solutions.  As the table below shows, only 4 of the counties in the St Louis MSA saw an increase in the foreclosure rate for August 2019 from the month before, but all counties saw a decline from August 2018.

  

St Louis Foreclosure Rate Drops By Double Digits

The rate of foreclosure in St Louis during the 2nd quarter of this year was 1 foreclosure filing for every 759 housing units, a decrease of 15.68% from the prior quarter and a decline of 18.54% from the 2nd quarter of 2018, according to data just released by ATTOM Data Research.  St Louis has the 73rd highest foreclosure rate of the 220 MSA’s ranked in the report.

As the table below shows, only three counties in the St Louis MSA saw an increase in foreclosure activity this quarter from the prior quarter and, with the exception of Lincoln County, none saw an increase from a year ago.

  

St Louis MSA Foreclosure Rate By County – 2nd Quarter 2019

Data Source: ATTOM Data Solutions -©2019 St Louis Real Estate News – All Rights Reserved

St Louis Foreclosure Rate Is Seventh Highest of 20 Largest Metros

During the first quarter of this year, there were foreclosure filings on 1,948 properties in the St. Louis MSA, which equates to 1 foreclosure filing for every 51 housing units, according to the latest data from ATTOM Data Research.  As the table below, which shows data for the 20-largest metro areas in the U.S., shows, this foreclosure rate puts St Louis at number 7 on the list in terms of foreclosure rate.

  

1st Quarter 2019 – Foreclosure Filings – 20 Largest MSA’s

1st Quarter 2019 - Foreclosure Filings - 20 Largest MSA's

Data Source: ATTOM Data Solutions -© 2019 St Louis Real Estate News

Number Of Foreclosures in St Louis During 2018 Drops To Lowest Number In Over 12 Years

As evidence of just how much the St Louis housing market has improved since the housing bubble burst a little over a decade ago, as well as a testimony as to the strength of our economy, the number of St Lous homeowners that lost their homes to foreclosure last year dropped to the lowest level in over 12 years.

As the tables below show, during 2018, 6,882 homeowners in the St Louis metro area received a notice of a foreclosure filing from their lender on their property, a decline of 6% from the prior year when 7,323 homeowners received a foreclosing filing notice.   The number of foreclosure filings in St Loius during 2018 was down 68.3% from 2010 when the number of foreclosures in St Louis hit a record high with 21,741 homeowners receiving a foreclosure filing notice.

  

Distressed Sale Opportunities For Investors Declined 30 Percent In Past 12-Months

As the interest in investing in real estate in St Louis continues to increase, whether to buy, fix and flip or to buy and hold for rental, the number of opportunities to do so continues to decline.  The primary source of “deals” for investors is typically “distressed” sales; property that has been foreclosed on and being resold, short sales or property in poor condition needing work.  However, as our chart for St Louis MSA below reveals, the number of distressed home sales in St Louis has been steadily declining over the past 5 years.

The chart shows both the number of distressed sales for each month (the pink line) as well as the 12-month trend (green line) and both are on the decline.  During the month of July 2018, there were 187 distressed home sales in St Louis, down 14% from 217 the month before and down 31% from last July when there were 272 distressed homes sold.  For the 12-month period ended July 31, 2018, there were 2,787 distressed home sales, down 30% from the prior 12-month period when there were 3,965 distressed homes sold in the St Louis MSA.

  

St Louis MSA Distressed Home Sales – Past 60 Months

(Click on Chart For Live, Interactive Chart)

 

Foreclosures In St Louis Increase In April

There were 1,814 foreclosure filings on homes in the St Louis metro area during the month of April 2017, an increase of 13.23% from the month before and an  increase of 12.25% from April 2016, according to a report just released this morning by ATTOM Data Solutions.  As the table below shows, all 7 Missouri Counties included in the report saw an increase in foreclosure activity last month from both the prior month as well as a year ago.  Of those, Lincoln County (which has very little foreclosure activity) saw the largest year-over-year as well as month-over-month increase, follow by St Louis County with a 45.37% increase from the month before and Franklin County with a 71.43% increase from a year ago.

 

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St Louis Foreclosure Activity Down In Most Areas

St Louis foreclosure activity during the first quarter of this year in the St Louis metro area was at a rate of 1 of every 469 homes, ranking St Louis 99th, in terms of foreclosure rate (a list that is good to be low on), of metropolitan areas in the U.S. with a population in excess of 200,000 people, according to a report just released by RealtyTrac.   The foreclosure rate in St Louis during the 1st quarter of 2016 declined 10.55 percent from the quarter before and declined 13.67 percent from the first quarter of 2015.

As the table below illustrates, foreclosure activity in all but two of the counties in Missouri that make up the St Louis MSA saw a decline in foreclosure activity from the prior quarter and all, but the city of St Louis, saw a decline from a year ago.

 

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St Louis Foreclosure Activity During 2015 Tops 2014 By Nearly Forty Percent

During 2015, a total of 10,391 housing units, or 1 out of 118 units, in the St Louis MSA had a foreclosure filing, according to a report just released by RealtyTrac.  This is an increase of 38.29% in foreclosure activity from 2014.

As the table below shows, Jefferson County had the highest rate of foreclosure in 2015 with 1 of every 114 housing units receiving a foreclosure action during the year and Warren County the lowest with just 1 of every 278 housing units receiving a foreclosure filing.

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St Louis Foreclosures Increase In First Half Of 2015

St Louis Foreclosures during the first half of 2015 increased in the St Louis metro area 26.52 percent from the second half of 2014 and 25.18 percent from the same period last year, according to a report released today by RealtyTrac.  According to the report, there were 5,468 foreclosure filings in the St Louis metro area during the first half of 2015 which equates to 1 in every 224 housing units in the metro area.

As the table below shows, with the exception of St Charles County, all of the counties making up the St Louis core market saw an increase in foreclosure activity in the first half of this year from the last half of last year.

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Want to Buy St Louis Foreclosures? Bring Your Cash And Bid High!

If you are like a lot of people and see St Louis foreclosures, or REO’s (real estate owned by banks and other lending institutions as a result of foreclosure) as a good opportunity to buy a residence for yourself or as an investment either for rental or for “flipping”, you best have cash and be prepared to “buck up” if you want to succeed!  I say this because cash buyers continue to dominate the REO and foreclosure market with 61% of all REO and Foreclosure sales this year in St Louis being cash sales thus far.  As the table below shows, while the number of foreclosure sales has declined this year from last year at the same time, the percentage of them going to cash buyers has not.

Good deals on St Louis foreclosures are selling fast and often for list price or more.

For the month of February, in the five county core St Louis market (city of St Louis and counties of St Louis, St Charles, Jefferson and Franklin) there were 273 foreclosure or REO homes sold and they were sold, on average, at 98% of list price.  If we drill down a little and find the “best” deals out of the gate, the ones that sell in the first 10 days, there were 48 foreclosure homes sold in February (18% of the overall total number of foreclosures sold) and they sold, on average, for 105% of the list price.  

So, if you are planning on buying St Louis foreclosures, cash is king and, for the new deals that hit the market with an attractive price, realize that even a full price offer may not buy it.  For some personal advice from me on how to be successful buying St Louis Foreclosures and REO’s, read my report here.

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St Louis REO (Foreclosure) Sales Through End of February- Number of Cash Sales

St Louis Foreclosures Rise Slightly In August; Up over 100 Percent In Outlying Areas

For the first time in a long time, there was an increase in  St Louis Foreclosures with 497 foreclosure actions in August, equivalent to 1 foreclosure action for every 2,511 housing units, an increase of 2.47 percent from the month before.  While up from the month before, St Louis Foreclosures in August 2014 were down 58.41% from August 2013.  As the table below shows, St Charles County had a big decline in foreclosure activity in August and the city of St Louis a modest decline, but Jefferson County and Franklin County both saw increases in foreclosures over over 100% from the month before.  With the exception of Franklin County, all the counties listed had a double digit decline in foreclosure activity from the year before.

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St Louis Foreclosures Increase In First Quarter 2014

St Louis foreclosures increased  during  the first quarter of this year in the main areas of our St. Louis metro area market located on the Missouri side of the Mississippi with St Louis city foreclosures, St Louis County foreclosures and St Charles county foreclosures all increasing from the 4th quarter of 2013, according to information real eased this morning by RealtyTrac.

St Louis foreclosures for the MSA were down during the first quarter of 2013 1.6% from the 4th quarter of 2013 with a foreclosure action occurring on 1 out of every 452 housing units in the St Louis metro area.  Foreclosures in the St Louis metro area, including all 5 counties that make up the core of the market on the Missouri side of the river, St Louis City and County, St Charles County, Jefferson county and Franklin County, decreased double digits from a year ago.  Complete details are in the table below.

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St Louis Foreclosures Increase In January But Down Almost 50 Percent From Year Ago

St Louis foreclosures increased in January to the point where 1 of every 1,649 housing units in the St Louis metro area had a foreclosure action on it during the month, an increase of 21.70 percent from the rate in December 2013, however a decline of almost 50% (47.06%) from January 2013, according to the latest data released today by RealtyTrac.

As the table below shows, all the counties that make up the core of the St Louis real estate market (on the Missouri side of the river) saw declines in foreclosure activity from a year ago with the exception of Jefferson County which saw foreclosure activity spike in January, increasing 128% from the month before and over 13% from a year ago.  Jefferson County also had the dubious distinction as having the highest rate of foreclosure activity during January 2014 of any county in Missouri.

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St Louis Foreclosures Up Almost 19 Percent From Year Ago

St Louis ForeclosuresSt Louis foreclosures rose during the 1st quarter of this year to 2,505 foreclosure sales in the St Louis metro area during the quarter, an increase of 18.83 percent from the year before, according to a newly released report from RealtyTrac.  The average sales price of St Louis foreclosures during the quarter was $89,229 and, on average, St Louis foreclosures sold at a 37.95 percent discount from non-distressed sales.

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St Louis Real Estate News: Foreclosures in the St Louis metro area decrease over 29 percent in October

Dennis Norman

Dennis Norman

Monroe and Jefferson County saw sharp increases however.

RealtyTrac® released its Foreclosure Market Reporttmfor October showing that foreclosure filings (default notices, scheduled auctions and bank repossessions) were down 3.3 percent in October from the month before in the US and up 18.86 percent from the year before.

RealtyTrac Foreclosure Rate for third quarter 2009Here in St Louis, overall the picture is much better. For the 16 counties and 1 city included in the RealtyTrac® report for the St Louis metro area foreclosure filings in October were down 29.47 percent from the month before and down 30.39 percent from the year before. Included in this data are 8 counties on the Illinois side of the river, St Louis City and eight other counties on the Missouri side. Continue reading “St Louis Real Estate News: Foreclosures in the St Louis metro area decrease over 29 percent in October