Tuesday, May 31, 2011

Housing malaise continues

We still have a few hours to go before May comes to an end, but here's an early glimpse at this month's numbers compared to May 2010. District-wide, foreclosures are still down with 43 foreclosure deeds this month compared to 57 in May 2010 and 61 orders of notice compared to 77 in May 2010. Unfortunately, the number of deeds and mortgages recorded are both down substantially, deeds by 26% and mortgages by 20%.

Depending on how busy it is here this afternoon, those figures could improve slightly, but I suspect the deed/mortgage declines are tangible evidence of the continued problems with housing prices that is detailed in this front-page story in today's New York Times.

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