Massachusetts Foreclosure Activity Up in January

Statewide filings up 21 percent from December; Up 35 percent from a year ago

 

Foreclosure activity in Massachusetts increased in January to 4,536 properties with foreclosure filings, a 21 percent increase from December 2009 and up 35 percent from January 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Massachusetts foreclosures were up in January,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest jump was in auctions, which climbed 52 percent for the month. While the state’s unemployment rate is still below the national average, it has risen recently. This is likely contributing to the increase.”

 

Massachusetts ranked 18th in the country in total foreclosures reported for the month. With one in every 603 housing units receiving a foreclosure filing, its foreclosure rate ranked 17th among the 50 states.

 

Worcester County posts top foreclosure rate in the state for January

Worcester County posted the state’s highest county foreclosure rate in January, with one in every 430 housing units receiving a foreclosure filing. Plymouth County was second, with one in every 436 housing units receiving a foreclosure filing. Bristol County came in third highest, with one in every 449 housing units receiving a foreclosure filing. Essex County posted the fourth highest foreclosure rate, where one in every 485 housing units received a foreclosure filing during the month. Hampden County documented the fifth highest foreclosure total, where one in every 512 housing units received a foreclosure filing during the month.

 

Worcester County also dominates state in total foreclosure filings for January

Worcester County led all counties, totaling 737 properties with foreclosure filings for the month. Middlesex County was second highest, documenting 693 properties with foreclosure filings. Essex County had the third highest total, reporting 616 properties with foreclosure filings for the month. Bristol County came in fourth highest, reporting 501 properties with foreclosure filings, followed by Plymouth County where 443 properties with foreclosure filings were reported.

 

State responsible for less than one percent of nation’s foreclosure total in January

Massachusetts accounted for less than one percent of the 315,716 properties with foreclosure filings reported nationwide in January. Total U.S. activity declined nearly 10 percent from the previous month but was still 15 percent ahead of January 2009. One in every 409 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: DefaultNotice of Default (NOD) and Lis Pendens (LIS); Auction — 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). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

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

 

 

Massachusetts Top Foreclosure Rates By County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

n/a

n/a

Mass.

0

1,775

0

1,944

817

4,536

603

0.68

n/a

 

 

 

 

 

 

 

 

 

 

Worcester

0

286

0

266

185

737

430

0.94

1.40

Plymouth

0

210

0

182

51

443

436

0.93

1.38

Bristol

0

180

0

250

71

501

449

0.90

1.34

Essex

0

223

0

293

100

616

485

0.83

1.24

Hampden

0

129

0

158

84

371

512

0.79

1.18

 

           

 

Massachusetts Top Foreclosure Totals by County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Dec 09

% Chg Jan 09

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

-9.67

15.06

Mass.

0

1,775

0

1,944

817

4,536

603

21.12

34.92

 

 

 

 

 

 

 

 

 

 

Worcester

0

286

0

266

185

737

430

18.87

24.49

Middlesex

0

274

0

293

126

693

864

26.92

13.98

Essex

0

223

0

293

100

616

485

28.07

21.74

Bristol

0

180

0

250

71

501

449

31.84

89.77

Plymouth

0

210

0

182

51

443

436

5.73

53.82

 

 

 

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