Impact of local foreclosures is low compared to many other parts of the country, but still higher than historical norms

The Harrisonburg and Rockingham County area sees fewer foreclosures than many other areas of the country, but we too saw an increase in completed foreclosures over the past several years.

After staying between 50 and 120 Trustee Sales per year (between 2000 and 2008) we have seen elevated numbers of foreclosures over the past several years as shown in the graph above.

After declining between 2010 and 2011 (-17%), the number of foreclosures increased again in 2012 -- though not to as high of a level as seen in 2010.

Expect to see more bank owned listings coming on the market in 2013.  And hopefully we will see the number of foreclosures decline again in 2013.