Rise in MO’s foreclosures starts a sign that housing mess isn’t over

Photo from Creative Commons

Missouri ranked among 33 states with annual increases in foreclosure starts in May, as total U.S. foreclosure activity rose 9 percent over April, reported St Louis Beacon Thursday, citing new numbers from RealtyTraca company that tracks foreclosures. As the Beacon explains:

Missouri ranked among nonjudicial states posting the highest annual increases in foreclosure starts: 35 percent.

Missouri ranked 22nd in total foreclosure activity, with 2,509 total filings and a rate of one in every 1,081 housing units. The state’s overall foreclosure activity increased just 0.4 percent from April and decreased nearly 3 percent from May 2011.

The St. Louis metropolitan area reported 1,872 total foreclosure filings in May, a rate of one in every 667 housing units, which was slightly better than the national rate. Total foreclosure activity increased by 4.4 percent over April 2012 and by nearly 17 percent over May 2011.

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