Light Foreclosure Activity in Wakefield So Far This Year

Foreclosure activity remains light in Wakefield so far in 2013, according to recent data from the Warren Group.

The real estate information company reported that there were zero foreclosure petitions filed in town during the month of April, compared to four during that month last year.

By the end of April, there had been four foreclosure petitions – the first stage in the foreclosure process – filed in Wakefield. For the same period in 2012, there were 13. This marks a decline of about 69% over the past year.

The real estate market has improved dramatically in 2013 with median prices up 11 percent and this has slowed foreclosures," said Timothy M. Warren Jr., CEO of The Warren Group.