Dane County foreclosures increased in July, although at a more moderate rate compared to earlier months this year. Foreclosures increased from 71 in July of 2007 to 91 in July of 2008, an increase of 28%.
The graph below shows the number of Dane County foreclosure filings dating back to January of 2005. Monthly filings have been above the 80 mark for 11 of the last 12 months, but are off their peak from earlier this year.
Year-to-date foreclosures through the month of July increased from 466 in 2007 to 723 this year, an increase of 55%.
How will rising foreclosures impact the Dane County real estate market? Expect inventory levels to remain high as more and more foreclosed homes work their way through the legal process and onto the open market.
For more information on the latest foreclosure trends, visit the economic trends page at DaneCountyMarket.com.
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