MASSACHUSETTS FORECLOSURES DECREASE 28 PERCENT IN JUNE

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 166 Percent From June 2006

 

IRVINE, Calif. – July 31, 2007 – Massachusetts reported 3,117 foreclosure filings in June, a 28 percent decrease from the previous month, but still 166 percent above the number reported in June 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.

 

“Employment in Massachusetts is on the rise, which is likely contributing to the state’s decrease in foreclosure activity compared to May,” said James J. Saccacio, chief executive officer of RealtyTrac. “Even with foreclosures up significantly compared to the same time last year, the state’s rate of foreclosures remains slightly below the national average.”

 

Massachusetts ranked 15th in the country in total foreclosures reported for June. The state’s foreclosure rate of one foreclosure filing for every 841 households ranked it 13th among the 50 states.

 

Worcester County leads state in foreclosure activity

Worcester County led the state in foreclosure activity for June, reporting 513 foreclosure filings. Middlesex County reported the second highest county total with 491 foreclosure filings. Hampden County came in third with 384 foreclosure filings for the month.

 

Hampden County posts highest foreclosure rate

Hampden County posted the highest foreclosure rate in the state, with one foreclosure filing for every 484 households — 1.7 times the state average and 1.5 times the national average. Worcester County posted the second highest foreclosure rate in the state, with one foreclosure filing for every 581 households — 1.5 times the state average and 1.2 times the national average. Bristol County posted the third highest foreclosure rate, with one foreclosure filing for every 718 households — 1.2 times the state average.

 

State a contributor to national total

Total foreclosure filings in Massachusetts accounted for 2 percent of the 164,644 foreclosure filings nationwide in June. The national total was down 7 percent from the previous month but still up 87 percent from June 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 704 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 – June 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,048

51,492

12,488

38,247

26,369

164,644

704

n/a

n/a

Massachusetts

0

1,294

601

1,189

33

3,117

841

0.84

n/a

 

 

 

 

 

 

 

 

 

 

Barnstable

222,230

0

56

17

71

1

145

1,014

0.69

Berkshire

134,953

0

25

14

14

0

53

1,251

0.56

Bristol

534,678

0

107

60

132

3

302

718

0.98

Dukes

14,987

0

4

0

6

0

10

1,484

0.47

Essex

723,419

0

120

80

130

8

338

850

0.83

Franklin

71,535

0

2

3

7

0

12

2,662

0.26

Hampden

456,228

0

222

54

108

0

384

484

1.45

Hampshire

152,251

0

15

5

12

1

33

1,777

0.40

Middlesex

1,465,396

0

198

121

170

2

491

1,175

0.60

Nantucket

9,520

0

0

0

2

0

2

4,605

0.15

Norfolk

650,308

0

103

41

99

3

246

1,037

0.68

Plymouth

472,822

0

68

46

119

3

236

769

0.92

Suffolk

689,807

0

142

60

146

4

352

831

0.85

Worcester

750,963

0

232

100

173

8

513

581

1.21

 

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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