Foreclosures Still Triple Digit

Despite some good news on the housing front, foreclosures in Knox County continued to post three-digit numbers during 2012. The number of foreclosures averaged 115 per month for the year, compared to about 70 per month in 2005 before the housing crash.

Numbers compiled by the Register of Deeds office show that the jump from the pre-recession rate has not abated. The average number of foreclosures in 2008, well into the recession, was 112 per month, less than the average for the past year.

Foreclosures in 2005 totaled 858. It jumped to 1,354 by 2008 and is up to 1,383 for 2012.

New-home sales nationally increased 20 percent during 2012, the most since 2009. But the totals are still about half the number considered to be a healthy housing economy.

© 2013 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 This material may not be published, broadcast, rewritten or redistributed.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.