Foreclosure Home Housing & Foreclosure Reports Massachusetts Foreclosure Activity Falls in January

Massachusetts Foreclosure Activity Falls in January

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Statewide filings down 22 percent from December

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 2,357 Massachusetts properties in January, a 22 percent decrease from December, but still 51 percent above the level reported for January 2011, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

Massachusetts had the 26th highest foreclosure rate, reporting one in every 1,191 Massachusetts housing units with a foreclosure filing in January.

Plymouth County posts top foreclosure rate in the state for January
 One in every 736 housing units in Plymouth County had a foreclosure filing in January — 1.6 times the state average — the highest foreclosure rate of all Massachusetts counties for the month. Hampden County had the second highest rate of one in every 878 housing units with a foreclosure filing during the month — 1.4 times the state average. Bristol County had the third highest rate of one in every 880 housing units with a foreclosure filing during the month — 1.4 times the state average.

Worcester County leads state in foreclosure activity in January
 Worcester County led all counties, reporting 368 properties with foreclosure filings for the month. Middlesex County had the second highest total, reporting 333 properties with foreclosure filings. Essex County was third, reporting 296 properties with foreclosure filings. Fourth highest was Plymouth County, recording 272 properties with foreclosure filings. Bristol County was fifth highest, tallying 262 properties with foreclosure filings for the month.

State a moderate contributor to total foreclosure activity in January
 Massachusetts accounted for 1 percent of the 210,941 properties with foreclosure filings reported nationwide in January. Total U.S. activity increased by 3 percent from December, but was still down over 19 percent from the level reported in January 2011. One in every 624 U.S. housing units received a foreclosure filing during the month.

“Although overall foreclosure activity was down from a year ago for the 16th straight month in January, we continue to see signs on a local and regional level that the frozen-up foreclosure process is beginning to thaw,” said Brandon Moore, CEO of RealtyTrac. “Foreclosure activity increased on a year-over-year basis for the first time in more than 12 months in Florida, Michigan, Indiana and Pennsylvania, following a pattern we saw in late 2011 in states such as California, Arizona and Massachusetts.

“We expect the pattern of increasing foreclosures to continue in the coming months, especially given the finalized mortgage and foreclosure settlement

  Massachusetts Top Foreclosure Rates By County – January 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

24,531

33,831

62,260

23,777

66,542

210,941

624

n/a

n/a

Massachusetts

0

763

0

790

804

2,357

1,191

0.52

n/a

 

 

 

 

 

 

 

 

 

 

Plymouth

0

96

0

96

80

272

736

0.85

1.62

Hampden

0

71

0

62

86

219

878

0.71

1.36

Bristol

0

64

0

82

116

262

880

0.71

1.35

Worcester

0

131

0

100

137

368

888

0.70

1.34

Essex

0

99

0

112

85

296

1036

0.60

1.15

Massachusetts Top Foreclosure Totals by County – January 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X   HU (rate)

% Chg   Dec 11

% Chg   Jan 11

 

 

 

 

 

 

 

 

 

 

United States

24,531

33,831

62,260

23,777

66,542

210,941

624

2.89

-19.28

Massachusetts

0

763

0

790

804

2,357

1,191

-22.29

50.70

 

 

 

 

 

 

 

 

 

 

Worcester

0

131

0

100

137

368

888

-30.70

41.00

Middlesex

0

95

0

119

119

333

1838

-23.45

54.17

Essex

0

99

0

112

85

296

1036

-16.85

43.00

Plymouth

0

96

0

96

80

272

736

-13.10

60.95

Bristol

0

64

0

82

116

262

880

-13.25

63.75

 


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