Boise foreclosures remained under 27% for the seventh month in a row with November posting 24.7%. These are some of the lowest numbers we’ve seen since January 2009 (16.8%). In fact, the average amount of foreclosures sales each month in 2009 was 31.5%. This year, the average is slightly higher at 32.4%. More data, though, needs to be collected for December. Still, the average amount of Boise foreclosures for 2012 is significantly smaller than the previous two years.
The type of foreclosures in Boise have changed slightly over the year as well. While short sales have remained relatively steady, Boise bank-owned homes have dropped since their 81 sales in January. During the month of November there were 28, the second lowest total this year. September had the smallest number at 19. Those numbers are significantly lower than 2011 where the most of these types of Boise foreclosures in one month was 125 and the lowest was 66.
In November, most Boise foreclosures came from West Boise. In fact, of the 50 short sales this month, 24 were from West Boise. Also, of the 28 other foreclosures in Boise (REO and HUD), 9 of those sales were in West Boise. Altogether, West Boise made up 42% of the foreclosure sales for the month of November.