CANYON COUNTY — After dropping substantially in September, Canyon County foreclosures jumped 53 percent in October, according to data released Thursday.
New foreclosure filings dropped 41 percent to 193 in September before rebounding to 296 last month, Idaho Data Providers.com reported.
So far in 2009 a total of 2,815 new foreclosure starts have been filed in Canyon County. This is a 284 percent increase from 2007, when 732 starts were filed, and a 65 percent increase over 2008, when 1,709 starts were filed in the same January through September period.
Canyon and Ada counties combined saw two straight months of decline in foreclosure starts the months of August and September — down a combined total of 29 percent from the peak 819 starts filed in July. However, October is back up 31 percent over September with a total of 790 foreclosure starts being filed in Ada and Canyon counties.
“After seeing the 31 percent increase in October, this brings foreclosure starts back up to the consistent plateau that we have been seeing throughout 2009,” Idaho Data Providers.com President Charlie Nate said in a press release. “Historically in the past years we see a general seasonal slowdown in the months of November and December and so we should see between 600 and 700 starts being filed in each of the next two months” for the combined two-county area.
Nate said this slowdown should give the local real estate community some time to clear some of these distressed properties off the market.
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information from idaho press tribune
