Knox Foreclosure Trend Continues

Knox County continues to get hit hard by home foreclosures during the current recession.

The “normal” rate of foreclosures, back in 2005 and 2006, ran from 50 to 75 per month.

For the last couple of years the rate has been in triple digits almost every month. The most recent include 110 in September, 106 in October, 115 in November and 48 one-third of the way into December.

A rash of foreclosures started in August of 2007 when the number hit 105. By 2008 the rate was consistently in triple digits, getting to 150 in September 2008. It continued into 2009 with 167 in July of that year.

There was a dip in the numbers at the end of last year and the beginning of this year. The rate dropped back to double digits, ranging from 65 to 85 from October 2010 through February of this year. Then the numbers went back up to triple digits.

© 2011 MetroPulse. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Comments » 0

Be the first to post a comment!

Share your thoughts

Comments are the sole responsibility of the person posting them. You agree not to post comments that are off topic, defamatory, obscene, abusive, threatening or an invasion of privacy. Violators may be banned. Click here for our full user agreement.

Comments can be shared on Facebook and Yahoo!. Add both options by connecting your profiles.