July recording statistics

Negative trends continue to be evident when we compare July's recording statistics with those from July 2009. The total number of documents recorded was down 23% from 6555 to 5054. The number of deeds recorded dropped by 12% from 501 to 440. Mortgages dropped by 26% from 1306 to 971. Foreclosure deeds were up 87%, rising from 30 to 56. The one piece of good news was that orders of notice dropped 30%, from 67 down to 47.

The continued decline in mortgage volume is perhaps the most significant statistic. Foreclosure-related activity has been bouncing up and down for a long time, so no real trends are evident there. The volume of mortgage recording however is down for the seventh consecutive month. This low level of lending activity has and will continue to have a stagnating effect on real estate.