Honolulu Hawaii Foreclosures First Quarter 2010
By Frank | Filed in honolulu hawaii | No comments yet.Hawaii Foreclosures Way Up Again
Foreclosure activity in Hawaii rose 1 percent during the first quarter of 2010 and was up 111 percent from the same period last year. In all, the state reported 3,286 properties with foreclosure filings during the quarter, according to RealtyTrac.
In March the state reported 1,097 properties with foreclosure filings, a 13 percent increase from the previous month and 52 percent above the level reported in March 2009. One in every 468 Hawaii housing units received a foreclosure filing during the month, the 15th highest state foreclosure rate.
“Hawaii reported another increase in foreclosure filings in March as activity remained high for the first quarter of 2010 and as compared to March 2009,” said James J. Saccacio, chief executive officer of RealtyTrac. “Although the state’s job market has remained relatively steady for the past several months, foreclosure activity more than doubled in the first quarter of 2010 compared to this period last year.”
One in every 156 Hawaii housing units received a foreclosure filing during the quarter — the 13th highest state foreclosure rate in the nation.
Hawaii County tops in foreclosure rate for the first quarter
Hawaii County had the highest county foreclosure rate in the state during the first quarter, with one in every 93 housing units receiving a foreclosure filing — 1.5 times the national average and 1.7 times the state average. Maui County had the second highest rate, with one in every 99 housing units receiving a foreclosure filing — 1.4 times the national average and 1.6 times the state average. Kauai County came in third, with one in every 147 housing units receiving a foreclosure filing — 1.1 times the state average.
Honolulu County led state in total foreclosures for the first quarter
Honolulu County led all counties in total foreclosure activity, reporting 1,564 properties with foreclosure filings for the quarter. Hawaii County was second, reporting 853 properties with foreclosure filings. Reporting 666 properties with foreclosure filings for the quarter, Maui County came in third. Kauai County was fourth, reporting 203 properties with foreclosure filings.
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