Foreclosures in Stoneham increased slightly in July compared to last year, as there have been more foreclosures year-to-date in 2012, according to a press statement by Boston-based real estate publisher The Warren Group.
There were seven foreclosure petitions filed for Stoneham properties in July compared to five in July 2011, according to the statement. Year-to-date, there have been 36 foreclosures in Stoneham, up from 21 through July of 2011, according to the statement.
The numbers in Stoneham are comparable to state averages. Foreclosures were down 17 percent—from 1,441 to 1,198—in July 2012 compared to July 2011, according to the statement. However, foreclosures are noticeably higher statewide from last year, with 6,856 initiated through July 2012 compared to 10,623 in as many months in 2011.
"It appears there is a downward trend in foreclosure activity," Warren Group CEO Timothy Warren said in the statement. "A strong economy and recovering housing market is helping lift consumer confidence. This news paired with banks' return to standard foreclosure processes is also helping."