Foreclosure numbers are typically reported by month, quarter, or year. The main problem with monthly reports is that they are dependent on the number of business days in that month. For months with few business days, such as November 2008, you can get a drop in the number of filings, even though the daily number of filings does not drop. For example, read about 23% fall in SE Wisconsin in the month of November.
November of 2008 had only 18 business days, while October 2008 had 23 business days. With an average of roughly 100 filings per day, you'd of course expect November to have significantly less filings. And it did.
Smoothing Functions
So, I've created a chart showing the daily foreclosure filing rate over the last 500+ days. The daily numbers have been smoothed out by using a simple moving average. As you can see from the chart, there is an overall trend line up over the past two years, along with a noticeable increase over the last few months. (click image to enlarge)
I'll try to update this graph every few months as this thing unfolds.
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