Lowell Deeds

A Lowell Sun article reports that the decline in house prices from February 2007 to February 2008 was the largest month to month decline since 1990. Our statistics show that the overall slowdown continues. Comparing the period of January 1 to March 26 in 2007 with the same period in 2008, we see that the total number of documents recorded slid from 14963 to 13714 and that deeds fell from 1288 to 1043. Foreclosure deeds rose from 69 to 128. As we reported at the end of February, however, the number of Orders of Notice showed a decline. Our three month snapshot in 2007 saw 263 while the same window in 2008 had only 227. Hopefully this is an indicator that the rate of foreclosures is slowing.