IRVINE, CA, Dec. 11, 2014 — RealtyTrac®
(www.realtytrac.com), the nation’s leading source for comprehensive housing
data, today released its U.S. Foreclosure Market Report™ for November 2014,
which shows foreclosure filings — default notices, scheduled auctions and bank
repossessions — were reported on 112,498 U.S. properties in November, a
decrease of 9 percent from the previous month and down 1 percent from a year
ago — the 50th consecutive month with a year-over-year decrease in overall
foreclosure activity.
The report also shows one in every 1,170 U.S. housing units
with a foreclosure filing during the month.
A total of 55,906 U.S. properties started the foreclosure
process in November, a decrease of 1 percent from the previous month but a 6
percent increase from a year ago, the first year-over-year increase following
27 consecutive months of year-over-year decreases.
50,102 U.S. properties were scheduled for foreclosure
auction during the month, down 16 percent from an 18-month high in the previous
month but up 5 percent from a year ago.
Lenders repossessed 25,249 properties in November, down 10
percent from the previous month and down 17 percent from a year ago, making
November the 24th consecutive month with year-over-year decreases.
“The housing market is struggling to find the new normal
when it comes to a tolerable level of foreclosure activity in this post-Great
Recession economy,” said Daren Blomquist, vice president at RealtyTrac.
“Finding that new normal requires striking a balance between too much loan
risk, which would result in another housing meltdown, and too little risk,
which could result in a stunted recovery.
For a complete copy of the company’s news release, please
contact:
Jennifer Von Pohlmann
949.502.8300, ext. 139
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