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http://www.boston.com/business/ticker/2006/08/mass_a_leader_i.html?p1=MEWell_Pos1Two new reports on the housing market in Massachusetts and elsewhere offer a glimpse of a weak market where foreclosures continue to rise and where in some communities more than half the homes on the market have had their asking prices reduced.
In one report, the town of Newton tops a national list of cities and suburbs in the percentage of homes on the market at least a month that have had their asking prices reduced. That same report, the first of its kind from national online real estate agency Zip Realty, ranks Massachusetts second only to California among states with cities in the top 20 for percentage of price-reduced homes.
The second report, from research firm RealtyTrac Inc., reported that foreclosure filings in the metropolitan Boston market increased by 181.1 percent in the second quarter of 2006 compared with the same period a year ago. In the second quarter the area had 1,823 foreclosure filings, which is the first step taken by lenders toward reclaiming properties from delinquent mortgage holders. That's one foreclosure for every 1,243 households.
Both reports were released today. (By Keith Reed, Globe staff)
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