Foreclosures in Mass. plummet 58.6% in May

There were 582 foreclosure deeds recorded in May, a 58.6 percent decrease from 1,405 during the same month in 2008, and a 24.3 percent drop from April.

So far this year, the number of foreclosure deeds statewide has gone down 26.3 percent to 4,110, compared with 5,576 during the same period last year, Warren Group said.

Timothy M. Warren Jr., Warren Group’s chief executive, called the new data “encouraging.’’ Foreclosure deeds in May were at the lowest level since April 2007, he said.