Birmingham Area Foreclosures up a bit in October


From our friends at Alabama Title:
I’m A bit late with this sorry!

Jefferson County:

October 2009 Jefferson County Foreclosures 5 week avg

October 2009 Jefferson County Foreclosures 5 week avg

October Foreclosure filings at last seemed to catch up to word of increasing default rates. Foreclosure filings rose from 263 in September to 385 in October, an increase of 46 percent.* In fact, foreclosure filings exceeded the previous year in three  of the last four months; for the months of July through October, foreclosure filings rose 5 percent compared with the same period in 2008 (see chart below depicting the 5-week average of foreclosures filed in 2008 versus 2009). Foreclosure filings year-to-date in 2009 remain 11 percent below foreclosures filed during the same period in 2008.
* NOTE: October was a five-week month.

Jefferson County Foreclosures October 2009 4 month cumulative

Jefferson County Foreclosures October 2009 4 month cumulative

Not so encouraging was the increase in foreclosures over the last four months. Foreclosure filings for the period numbered 1,346, up from 1,277 (or 5 percent) during the same period last year.

Shelby County:

Shelby County 5 week Foreclosures October 2009

Shelby County 5 week Foreclosures October 2009

Not so encouraging was the increase in foreclosures over the last four months. Foreclosure filings for the period numbered 1,346, up from 1,277 (or 5 percent)
Foreclosure filings in Shelby County nearly doubled from September to October, rising from 36 to 64.* However, Shelby County has not yet experienced the type of rise in foreclosures seen in Jefferson County. Foreclosure filings in Shelby County are down 16 percent as compared with the same period in 2008.
* NOTE: October was a five-week month.

Shelby County 4 month cumulative Foreclosures October 2009

Shelby County 4 month cumulative Foreclosures October 2009

Sixty-four foreclosures were filed in Shelby County in October, up from 26 the previous month. In October of 2008, 90 foreclosures were filed.

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