Lowell Deeds

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

May 22, 2008

Foreclosure Prognostications

by @ 12:31 pm. Filed under Statistics

Even though there’s still a week left in May, the number of foreclosure deeds filed for Lowell thus far exceed the monthly total for all months back to mid-1994 except for March and April of this year. Last fall, it seemed that foreclosures had peaked during the summer. June, July and August had all averaged more than 30 per month, but then the numbers tapered off to the low 20s for the balance of the year. That trend continued in January and February of this year. But in March, the number of foreclosure deeds spiked to 38, a monthly amount exceed only by 39 in August 1994 and 44 in March 1993. The high volume continued through April (37) and as of today, 32 have been filed in May and that’s with five more recording days until the end of the month. Including only the May figures to date, 2008 is averaging more than 30 foreclosures per month, the highest monthly average for a year since 32 in 1993. It doesn’t take a mystic to predict that a turnaround for real estate is nowhere in sight.

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