MASSACHUSETTS FORECLOSURE ACTIVITY DOWN 23 PERCENT IN SEPTEMBER

Yearly Total Up 28 Percent From September 2006

 

IRVINE, Calif. – Oct. 26, 2007 – Massachusetts reported 3,491 foreclosure filings in September, a 23 percent decrease from the previous month, but still a 28 percent increase from September 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“Although Massachusetts foreclosures declined in September, the numbers are up from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that while home price appreciation rates throughout the country have increased, average home prices in Massachusetts have declined. This is likely contributing to the overall rise.”

 

Massachusetts ranked 16th in the country in total foreclosures reported for the month. The state’s foreclosure rate of one foreclosure filing for every 770 households ranked it 14th among the 50 states.

 

Middlesex reports biggest foreclosure total

Middlesex County accounted for 20 percent of all foreclosure activity in the state for September, with 712 foreclosure filings during the month. Worcester County documented the second highest foreclosure total, with 561 foreclosure filings. Suffolk County posted the third highest foreclosure total, reporting 437 foreclosure filings in the pipeline.

 

Hampden County leads state in foreclosure rate

Hampden County reported the highest foreclosure rate in the state for September, with one foreclosure filing for every 548 households — 1.4 times the state average. Worcester County posted the second highest foreclosure rate, with one foreclosure filing for every 555 households — 1.4 times the state average. Suffolk County posted the third highest foreclosure rate, with one foreclosure filing for every 673 households.

 

State contributes 2 percent to nation’s monthly total

Total foreclosure filings in Massachusetts accounted for 2 percent of the 223,538 foreclosure filings nationwide in September. The national total represents an 8 percent decrease from the previous month but is still 99 percent above the total reported for September 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 557 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

                 Massachusetts Foreclosure Market by County – September 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,234

63,405

21,925

51,172

39,802

223,538

557

n/a

n/a

Massachusetts

0

2

644

2,516

329

3,491

770

0.72

n/a

 

 

 

 

 

 

 

 

 

 

Abington

0

0

0

0

0

0

n/a

n/a

n/a

Agawam

0

0

0

0

0

0

n/a

n/a

n/a

Amherst

0

0

0

0

0

0

n/a

n/a

n/a

Andover

0

0

0

0

0

0

n/a

n/a

n/a

Arlington

0

0

0

0

0

0

n/a

n/a

n/a

Ashburnham

0

0

0

0

0

0

n/a

n/a

n/a

Attleboro

0

0

0

0

0

0

n/a

n/a

n/a

Barnstable

0

0

21

127

3

151

1,019

0.55

0.756

Belmont

0

0

0

0

0

0

n/a

n/a

n/a

Berkshire

0

0

2

31

8

41

1,645

0.34

0.468

Billerica

0

0

0

0

0

0

n/a

n/a

n/a

Bourne

0

0

0

0

0

0

n/a

n/a

n/a

Braintree

0

0

0

0

0

0

n/a

n/a

n/a

Bridgewater

0

0

0

0

0

0

n/a

n/a

n/a

Bristol

0

1

55

213

6

275

811

0.69

0.949

Brockton

0

0

0

0

0

0

n/a

n/a

n/a

Brookline

0

0

0

0

0

0

n/a

n/a

n/a

Cambridge

0

0

0

0

0

0

n/a

n/a

n/a

Chelmsford

0

0

0

0

0

0

n/a

n/a

n/a

Chelsea

0

0

0

0

0

0

n/a

n/a

n/a

Chicopee

0

0

0

0

0

0

n/a

n/a

n/a

Danvers

0

0

0

0

0

0

n/a

n/a

n/a

Dartmouth

0

0

0

0

0

0

n/a

n/a

n/a

Dedham

0

0

0

0

0

0

n/a

n/a

n/a

Dennis

0

0

0

0

0

0

n/a

n/a

n/a

Dracut

0

0

0

0

0

0

n/a

n/a

n/a

Dukes

0

0

0

2

0

2

7,948

0.07

0.097

East Longmeadow

0

0

0

0

0

0

n/a

n/a

n/a

Edgartown

0

0

0

0

0

0

n/a

n/a

n/a

Essex

0

0

55

374

2

431

683

0.82

1.128

Everett

0

0

0

0

0

0

n/a

n/a

n/a

Fall River

0

0

0

0

0

0

n/a

n/a

n/a

Falmouth

0

0

0

0

0

0

n/a

n/a

n/a

Fitchburg

0

0

0

0

0

0

n/a

n/a

n/a

Framingham

0

0

0

0

0

0

n/a

n/a

n/a

Franklin

0

0

1

20

5

26

1,258

0.44

0.612

Gloucester

0

0

0

0

0

0

n/a

n/a

n/a

Greenfield

0

0

0

0

0

0

n/a

n/a

n/a

Hampden

0

0

114

227

2

343

548

1.02

1.406

Hampshire

0

0

5

24

11

40

1,510

0.37

0.510

Harwich

0

0

0

0

0

0

n/a

n/a

n/a

Haverhill

0

0

0

0

0

0

n/a

n/a

n/a

Hingham

0

0

0

0

0

0

n/a

n/a

n/a

Holyoke

0

0

0

0

0

0

n/a

n/a

n/a

Lawrence

0

0

0

0

0

0

n/a

n/a

n/a

Leominster

0

0

0

0

0

0

n/a

n/a

n/a

Lexington

0

0

0

0

0

0

n/a

n/a

n/a

Longmeadow

0

0

0

0

0

0

n/a

n/a

n/a

Lowell

0

0

0

0

0

0

n/a

n/a

n/a

Ludlow

0

0

0

0

0

0

n/a

n/a

n/a

Lynn

0

0

0

0

0

0

n/a

n/a

n/a

Lynnfield

0

0

0

0

0

0

n/a

n/a

n/a

Malden

0

0

0

0

0

0

n/a

n/a

n/a

Marlborough

0

0

0

0

0

0

n/a

n/a

n/a

Marshfield

0

0

0

0

0

0

n/a

n/a

n/a

Mashpee

0

0

0

0

0

0

n/a

n/a

n/a

Medford

0

0

0

0

0

0

n/a

n/a

n/a

Melrose

0

0

0

0

0

0

n/a

n/a

n/a

Methuen

0

0

0

0

0

0

n/a

n/a

n/a

Middleboro

0

0

0

0

0

0

n/a

n/a

n/a

Middlesex

0

0

142

421

149

712

823

0.68

0.935

Milford

0

0

0

0

0

0

n/a

n/a

n/a

Milton

0

0

0

0

0

0

n/a

n/a

n/a

Monson

0

0

0

0

0

0

n/a

n/a

n/a

Nantucket

0

0

0

4

0

4

2,574

0.22

0.299

Natick

0

0

0

0

0

0

n/a

n/a

n/a

Needham

0

0

0

0

0

0

n/a

n/a

n/a

New Bedford

0

0

0

0

0

0

n/a

n/a

n/a

Newbury

0

0

0

0

0

0

n/a

n/a

n/a

Newton

0

0

0

0

0

0

n/a

n/a

n/a

Norfolk

0

0

37

161

2

200

1,308

0.43

0.589

North Andover

0

0

0

0

0

0

n/a

n/a

n/a

Norwood

0

0

0

0

0

0

n/a

n/a

n/a

Orange

0

0

0

0

0

0

n/a

n/a

n/a

Palmer

0

0

0

0

0

0

n/a

n/a

n/a

Peabody

0

0

0

0

0

0

n/a

n/a

n/a

Pittsfield

0

0

0

0

0

0

n/a

n/a

n/a

Plymouth

0

1

16

249

2

268

706

0.79

1.091

Quincy

0

0

0

0

0

0

n/a

n/a

n/a

Revere

0

0

0

0

0

0

n/a

n/a

n/a

Salem

0

0

0

0

0

0

n/a

n/a

n/a

Sandwich

0

0

0

0

0

0

n/a

n/a

n/a

Saugus

0

0

0

0

0

0

n/a

n/a

n/a

Shrewsbury

0

0

0

0

0

0

n/a

n/a

n/a

Somerville

0

0

0

0

0

0

n/a

n/a

n/a

South Hadley

0

0

0

0

0

0

n/a

n/a

n/a

Southampton

0

0

0

0

0

0

n/a

n/a

n/a

Springfield

0

0

0

0

0

0

n/a

n/a

n/a

Stoneham

0

0

0

0

0

0

n/a

n/a

n/a

Stoughton

0

0

0

0

0

0

n/a

n/a

n/a

Suffolk

0

0

27

295

115

437

673

0.83

1.145

Sunderland

0

0

0

0

0

0

n/a

n/a

n/a

Taunton

0

0

0

0

0

0

n/a

n/a

n/a

Tewksbury

0

0

0

0

0

0

n/a

n/a

n/a

Wakefield

0

0

0

0

0

0

n/a

n/a

n/a

Walpole

0

0

0

0

0

0

n/a

n/a

n/a

Waltham

0

0

0

0

0

0

n/a

n/a

n/a

Wareham

0

0

0

0

0

0

n/a

n/a

n/a

Warren

0

0

0

0

0

0

n/a

n/a

n/a

Watertown

0

0

0

0

0

0

n/a

n/a

n/a

Webster

0

0

0

0

0

0

n/a

n/a

n/a

Wellesley

0

0

0

0

0

0

n/a

n/a

n/a

West Springfield

0

0

0

0

0

0

n/a

n/a

n/a

Westfield

0

0

0

0

0

0

n/a

n/a

n/a

Weymouth

0

0

0

0

0

0

n/a

n/a

n/a

Whitman

0

0

0

0

0

0

n/a

n/a

n/a

Winthrop

0

0

0

0

0

0

n/a

n/a

n/a

Woburn

0

0

0

0

0

0

n/a

n/a

n/a

Worcester

0

0

169

368

24

561

555

1.00

1.387

Yarmouth

0

0

0

0

0

0

n/a

n/a

n/a

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new homes, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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