More Foreclosures Finalized In January, Pending Sales On The Rise
The number of foreclosures initiated by lenders in January fell to 1,874 even as the number of foreclosures completed during the month climbed to the highest point in three years.
At 1,874, January's petitions to foreclose were down 9 percent from December and down 4.4 percent from January 2009, according to The Warren Group, a Boston-based real estate tracker. The monthly total was the lowest in more than a year.
But 1,061 foreclosure deeds were recorded in the state during the month, up from 978 a year earlier and 857 in December. In fact, it was the greatest number of foreclosure deed filings for the month since Warren started tracking foreclosures in 2006.
Auction announcements also surged during the month and were up 81.5 percent compared to January 2009 and 23 percent from December.
In other real estate news, the Massachusetts Association of Realtors said the number of single family homes put under agreement in February was up 16 percent over last year while the number of condos put under agreement during the month was up 25 percent.
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