MHP Releases Updated Foreclosure Report - January 23, 2009

The “Massachusetts Foreclosure Monitor” is MHP’s quarterly examination of statewide and local foreclosure trends in Massachusetts and the nation.

According to the report, the national real estate market deteriorated in the latter half of 2008. The latest data from the Federal Housing Finance Agency shows home prices increased in only 18 states from Q3 2007 to Q3 2008. All told, prices fell in 30 states and the District of Columbia from Q3 2007 to Q3 2008. Massachusetts had the ninth worst annual price decrease (4.8 percent). This was a deterioration from the Q2 2007-Q2 2008 comparison, when prices declined 2.9 percent. Massachusetts prices are now at the same level as Q3 2004.

Please click here to view the full report.