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North Shore foreclosures rise in June while state falls

Posted by Ryan Mooney  July 20, 2012 08:37 AM

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The North Shore saw a marginal rise in completed home foreclosures last month over June of 2011, while foreclosures across the Bay State decreased overall, according to numbers released by the Warren Group.

According to the Boston-based real estate data tracker, foreclosure deeds - which represent complete foreclosures - decreased almost 24 percent statewide, from 936 in June of last year to 715 last month, representing the first year-over-year decrease since September.

For complete town-by-town foreclosure data, click here. For county-by-county numbers, click here.

But the North Shore went against the grain slightly.

Salem and Danvers each had five homes foreclosed on in June, up from just two each over the same period last year. Peabody saw six foreclosures last month - two more than in June of 2011 - and Beverly had one more than last June, also for a total of six.

Salem and Danvers have also seen an increase in the first six months of 2012 over the first half of last year - from 23 to 28 in Salem, and from 11 to 12 in Danvers - while statewide, foreclosures are up almost 18 percent, for a total of 4,450.

"Foreclosure numbers are beginning to become clearer," Timothy M. Warren Jr., CEO of The Warren Group, said in a statement released on Thursday. "After such a slow year for foreclosures in 2011 that left many distressed properties in limbo, we are starting to see banks work their way through the backlog."

Foreclosure auctions dropped last month in Salem, Peabody, and Beverly from June of 2011 - and stayed level in Danvers - as they fell nearly 50 percent statewide.

The first step in the foreclosure process, foreclosure petitions, fell to the lowest level the Bay State has seen so far this year, but again the North Shore saw a reverse trend last month. Beverly (one more than June of 2011 for a total of six), Salem (five more for a total of 12), and Peabody (a 160 percent increase, from five to 13) all saw increased activity.


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