Foreclosures On The Decline Since 2010

Taber Andrew Bain / Flickr

Foreclosures went down during the month of September

The worst might be over in terms of New Hampshire’s foreclosure rate…but that doesn’t mean things will be truly good in the near future.  NHPR’s Jon Greenberg looked into the September numbers released by the New Hampshire Housing Finance Authority, and reports:

“About 300 owners lost their homes in September.  That’s 8% less than a year ago.  Until now, New Hampshire Housing has been reluctant to forecast how the year will end up.  But with just three months left, it now expects to see about 3600 in 2011.

That’s close to the total in 2008.  However, in normal times, the state might see just 500 foreclosures a year.”

You can see the Housing Finance Authority’s report here.  The chart below is part of the report, and illustrates foreclosure trends over the past six years.

If the Housing Finance Authority is right, 2010 was the high water mark for foreclosures in New Hampshire