Lowell Deeds

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

July 1, 2008

Half-Year Statistics

by @ 11:00 am. Filed under Statistics

2008 is half over, so I compared our recording activity during the past six months with the first six months of 2007. For the entire ten town district, here’s what I found:

    Deeds in 2007 - 3346; in 2008 - 2630, a 21% decline
    Mortgages in 2007 - 8619; in 2008 - 6500, a 25% decline
    Foreclosures in 2007 - 186; in 2008 - 328, a 76% increase

Here are the same statistics just for Lowell:

    Deeds in 2007 - 1095; in 2008 - 825, a 25% decline
    Mortgages in 2007 - 2443; in 2008 - 1465, a 40% decline
    Foreclosures in 2007 - 112; in 2008 - 203, a 81% increase

While the decline in the number of deeds recorded in Lowell is consistant with the rest of the district, the drop in new mortgages is much more pronounced. This could indicate that people living in the city are finding it more difficult to refinance or to obtain financing in the first place.

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