Fewer and Fewer Foreclosures

Well, here's a good indicator that our local housing market continues to become healthier over time -- as shown above, the number of foreclosure sales per year has continued to decline over the past several years.

To put these into an even larger context:

• There were as many as 270 foreclosures if we go back to 2010.
   
• Between 2002 and 2007 there were only 63 - 97 foreclosures per year.
   
• During the past few years, as the number of foreclosures per year has declined (shown above) the number of home sales per year has steadily increased.

All in all, it is a good sign for our local housing market when the number of foreclosures per year declines.  It means more homeowners are able to stay in their homes, and make their mortgage payments, which is a general sign of a stronger local economy.