Massachusetts remains hopeful for a turn in their housing market. In December of 2012, there were only 265 recorded foreclosure deeds, these are completed foreclosures. This is 64% less than December of 2011, according to the Warren Group, a real estate and financial information firm.
However 835 foreclosure petitions were filed in the same month. A petition is the first step in the foreclosure process. Even though it is a lot, it is a 17% decrease from the year before. The Warren Group also added that the number of total completed foreclosure deeds dropped 13% for all of 2012, for a grand total of 7,424.
Are you ready for this though? In 2012 the number of foreclosure petitions increased by a whopping 35%, totaling 17,152. Timothy Warren Jr. said that the actual foreclosures deeds and even petitions decreased over the last 2 months and should continue to do so.
He also said, “Foreclosures have been trending down for several years now. A robust real estate market will ensure that this trend continues in 2013.”
Let’s wait to see what those January numbers look like…
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