Lowell Deeds

The latest on real estate recordings and new technology from the Middlesex North Registry of Deeds in Lowell

March 1, 2006

Is the Bubble Bursting?

by @ 11:35 am. Filed under Statistics, Real Estate

Headlines in both the Globe and the Sun today paint an ominous picture for anyone in the real estate business. (See “Mass home sales plummet” in the Globe and “House sales keep falling” in the Sun). We’ve compiled some statistics that corroborate this slide in real estate activity. Strong evidence of this is found by looking at the number of deeds recorded in all of Middlesex County during the months of December, January and February over the past six years. For this three month period this year, 7387 deeds were recorded county-wide, a decline of 9% and the lowest total since 2000. A look at the city of Lowell alone paints a picture not nearly as bleak. Lowell’s total of deeds for this winter was 647 as compared to 702 in 2005. While that’s still a decline of nearly 8%, that has more to do with the winter of 2005 being a unique period of extremely high sales activity. For example, the number of deeds recorded for this three month winter period in 2001 was 537; in 2002 it was 502; in 2003 it was 594; in 2004 it was 587; in 2005 it was 702 and in 2006 it was 647. So, while the 2006 figures were a significant decline from 2005, the 2006 figures are still high compared to all other years in this century. The larger question, of course, is whether the city of Lowell is sidestepping this decline or if it is just slower to feel the effects of it.

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