Today's post is about Madison foreclosures and comes courtesy of Professors Andy Lewis and Russ Kashian from the University of Wisconsin Extension. Andy and Russ analyzed Wisconsin Circuit Court data to determine the number of foreclosures by zip code from the years 2000 to 2007.
Their data shows that Dane County foreclosures grew from 306 in the year 2000 to 898 in 2007, an increase of 193%. Foreclosure growth on Madison's west side outpaced the Dane County average, growing from 46 in 2000 to 154 in 2007, an increase of 235%. West side growth was highest in the 53711 and 53719 zip codes, where a number of new homes and condos were built and purchased since the beginning of the decade.
Foreclosures on Madison's east side also grew significantly, but at a slower pace of 142%. As in Madison's west side, the Madison East home-owner base increased significantly over the decade, which helped to fuel foreclosure growth. As an example, foreclosures in the 53718 zip code grew from zero in the year 2000 to 30 in 2007.
We'll cover foreclosures in surrounding Dane County communities in our next post. For more information on Madison foreclosures, visit our foreclosures by zip code article at DaneCountyMarket.com.
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