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WBJ: Foreclosures Drop in DC Area in May

  • June 11th 2009

by Mark Wellborn

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WBJ: Foreclosures Drop in DC Area in May: Figure 1

Foreclosures fell in the DC area last month, according to the Washington Business Journal. The trend was in line with a decline across the country.

The WBJ reports that data from foreclosure research firm RealtyTrac’s shows a 25 percent decline in foreclosures in DC proper in May compared to April. In Virginia, the drop was not as significant (14 percent), but still noteworthy, and in Maryland foreclosures fell just 2 percent. Nationally, foreclosures declined 6 percent to 321,480.

From the WBJ:

“The District also had the best foreclosure performance compared to May of 2008 with defaults declining 24 percent from the year ago period. Virginia foreclosures were 2 percent higher than May of 2008. Maryland foreclosures were 51 percent higher than a year ago.”

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/wbj_foreclosures_drop_in_dc_area_in_may/1018.

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