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News Quickie: Foreclosures Decrease Nationally, Increase Locally

Aubrey Cohen has really been picking up the pace lately, with the new blog and an increased number of articles. One of his latest articles mentions that the rate of new foreclosures is actually recently increasing in Seattle at a faster rate than the country as a whole.

Although the Seattle area continued to have fewer foreclosure filings and smaller annual increases in filings in September than elsewhere in the U.S., the gap has narrowed somewhat since August, according to a report Thursday.

Area filings increased nearly 31 percent in September from a year earlier and 6 percent from August, according to RealtyTrac, an Irvine, Calif., company that tracks foreclosure activity. U.S. filings were up 99 percent from a year earlier, but declined by more than 8 percent from August’s 32-month national high.

Of course, the increase is only in month-to-month statistics, which aren’t especially useful for determining long-term trends. We’ll keep our eye on the foreclosure rate to see if it turns into a pattern.

(Aubrey Cohen, Seattle P-I, 10.11.2007)

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About The Tim

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market. Tim also hosts the weekly improv comedy sci-fi podcast Dispatches from the Multiverse.

2 comments:

  1. 1
    mydquin says:

    Why do the subtitle and introductory paragraph cite the 30% figure while the stats only show a 20% increase in King county?

  2. 2
    TJ_98370 says:

    mydquin,

    Apparently the article is making an undefined differentiation between “Area” and “King County”

    ….Area filings increased nearly 31 percent in September from a year earlier……

    ….King County filings increased 20 percent in September from a year earlier……

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