Boston 2010 Real Estate News

Boston Property News

Wednesday, February 25, 2009

Foreclosures on Cape buck state trend

The number of foreclosures completed on Cape Cod last month was down 8.9 percent, compared with the same month last year, according to The Warren Group, a Boston-based real estate data and publishing firm.

Last month, 41 foreclosure deeds were filed in Barnstable County, down from the January 2008 total of 45.

What's more, the Cape is one of just three Massachusetts counties in which the number of foreclosures fell last month. Statewide, foreclosure deeds jumped by 21.8 percent last month, compared with January 2009.

For the Cape to have better foreclosure news than the rest of the state is a reversal of recent trend; throughout 2008, foreclosures in Barnstable County generally went up at rates significantly higher than the statewide numbers.