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Southern New England's multifamily housing market facts

Email|Print|Single Page| Text size + By The Associated Press
May 31, 2008

TWO- AND THREE-FAMILY FORECLOSURES VS. SALES

Number of two- and three-family homes whose owners had foreclosure actions filed against their properties in 2007, and percentage change from 2006:

Massachussets: 6,460 foreclosure petitions, up 62 percent

Connecticut: 2,096 "lis pendens" -- the first step in foreclosure process -- up 54 percent

Rhode Island: 196 foreclosure auction announcements, up 168 percent

Number of two- and three-family homes sold last year, and change from 2006:

Massachussets: 5,622, down 37 percent

Connecticut: 3,406, down 36 percent

Rhode Island: 449, down 21 percent

TWO- AND THREE-FAMILY FORECLOSURE DISPARITY VS. OTHER HOUSING

Massachusetts: Nearly 221,000 two- and three-family homes make up nearly 12 percent of state's housing stock (also including single-families and condominiums), but accounted for 28 percent of foreclosure petitions last year.

Connecticut: More than 74,000 two- and three-family homes make up 7 percent of state's housing stock, but accounted for 14 percent of "lis pendens" last year.

Rhode Island: Nearly 25,000 two- and three-family homes make up 8.8 percent of state's housing stock, but accounted for 10.4 percent of foreclosure auction announcements last year.

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Sources:

The Warren Group, Associated Press analysis.

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