Monday, April 6, 2009

King County Foreclosure Rates March 2009

Click on graph to enlarge.

A curious thing happened last month. Even though Notice of Trustee Sale filings have risen, the actual homes that were foreclosed on went down.

To understand this we must look at 4 months prior, which would be November, where Notice of Trustee Sale filings dropped slightly. It is important to know that once a Notice of Trustee's Sale is filed it will take four months to turn into an actual foreclosure.

Now look at the increase of Notice filings for January, February and March. Will the increase in filings turn into foreclosures for April, May and June? We'll have to wait until May 1st to see.

1 comment:

Jillayne Schlicke said...

Hi Julie,

Fannie Mae, Freddie Mac, and a number of other large, national banks put a foreclosure moratium into place around the holidays. It just expired a few days ago. We should see NTS and trustee deeds increase for April and onwards through 2009.