BOSTON – The number of foreclosures in Massachusetts fell “dramatically” in April, dropping below 800 foreclosure deeds a month for the first time in six months, according to a statewide report released today by The Warren Group, a real estate tracking firm.
Statewide foreclosures fell 44 percent, dropping to 755 foreclosures from the 1,344 deeds filed in the same month a year ago. In Bristol County, the number of foreclosure deeds fell 49 percent year over year, dropping from 132 to 67.
“The good news is that the number of foreclosure deeds recorded in April was the lowest in a single month in over a year and lenders have been starting far fewer foreclosure proceedings this year compared to last year,” Warren Group CEO Timothy M. Warren Jr. said in a statement.
“But I’m a little cautious about being overly optimistic with this latest report, because the employment picture hasn’t changed much and mortgage loan delinquencies have been trending up,” Warren said.
Year-to-date foreclosure filings are down only 16 percent statewide – dropping from 4,171 deeds at this point last year to 3,510.
In Bristol County, 315 homes were foreclosed on during the first four months of the year. That represented a 24-percent drop from the same period a year ago.
The Warren Group Inc. is a provider of New England real estate data and the publisher of Banker & Tradesman and other journals. Additional information is available at TheWarrenGroup.com.
