August foreclosures fall to a low for ’12 so far

foreclosures

By Jenifer McKim | The Boston Globe | October 3, 2012

The number of Massachusetts homeowners­ who lost their properties to foreclosure in August fell to 566, about 40 percent fewer compared with the same month last year and the lowest monthly total for 2012, figures released Tuesday showed.

It marked the third consecutive month of declining foreclosures, compared with the same period in 2011, according to Warren Group, a Boston company that tracks local real estate. But despite the August decline, higher foreclosure numbers earlier in the year resulted in a year-over-year increase of 8.4 percent for the January-through-August period. In the first eight months of 2012, the firm said, 5,975 homes were lost to foreclosure in Massachusetts.

Petitions, the first step in the seizure process, increased slightly in August­ to 1,456, a 4.2 percent rise, compared with the same month last year. Between January and August, the number of petitions delivered to homeowners increased by 46 percent, to 12,079. Read More

Mass. foreclosures drop 17% from 2011

foreclosure-1

By Jenifer B. McKim | The Boston Globe | September 18, 2012

Fewer foreclosures were started and completed in July as the Massachusetts housing market and overall economy continued to slowly improve, according to data released Monday.

The number of foreclosure petitions — the first step in the seizure process — dropped to 1,198 in July, nearly 17 percent fewer than during the same period last year and the lowest monthly total recorded in 2012, according to the Warren Group, a Boston company that tracks local real estate.

Foreclosure deeds — which signal the completion of the process — fell to 648 in July, also a 17 percent drop compared with July 2011. That was the smallest number of foreclosures recorded in a month since May 2011.

The slowdown in home-takings comes as the state’s economy and housing market are doing better. The Massachusetts unemployment rate in July was 6.1 percent, a long way from its 2010 peak of 8.7 percent. Read More

Mixed Signs In Mass. Housing Market

mixed signs housing market

By Bob Oakes | WBUR | July 23, 2012
Listen to the broadcast at WBUR

There are mixed signs in the state’s housing market. Foreclosure petitions — the first step in the process — have dipped to their lowest level this year. But according to the Warren Group, more petitions were filed last month than in June 2011.

The Massachusetts Association of Realtors says its market index is up 103 percent from last year. While home prices are also higher than this time in 2011, they’ve dropped over the past two months, so it’s still a volatile market.

Housing expert Barry Bluestone monitors the housing market as the director for the Dukakis Center for Urban and Regional Policy at Northeastern University. He joined Morning Edition Monday to talk about the market in greater Boston. Read More

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