September Sees Continued Drop for Completed Foreclosures in Westford
Although there have actually been been more petitions for foreclosures so far this year in town compared to 2011, the number of foreclosures being completed is down so far in comparison.
In what may be a sign of a recovering local housing market, completed foreclosures are down in Westford by a third so far this year compared to 2011.
According to the Warren Group, Westford has only seen 10 foreclosure deeds so far this year at the end of September, compared to 15 at the end of September in 2012.
Despite the fact that the petitioned foreclosures to date so far this year are actually up compared to last year (27 to 15), and throughout much of the Commonwealth, it remained level for the month of September alone in Westford, a trend also mirrored elsewhere in the state for the most part.
For Warren Group CEO Timothy Warren, this is a positive sign when it comes to the market as a whole.
"The pace of homes entering the foreclosure process slowed in September, another strong indicator of a housing market recovery," said Warren. "Foreclosure deeds declined for the fourth month in a row. That's another good sign."
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