Friday, October 12, 2012

U.S. Foreclosure Activity Drops to 5-Year Low in September, According to RealtyTrac®




Daren Blomquist
IRVINE, CA— RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its U.S. Foreclosure Market Report™ for September and the third quarter of 2012, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 180,427 U.S. properties in September, a decrease of 7 percent from the previous month and down 16 percent from September 2011. September’s total was the lowest U.S. total since July 2007.

The decrease in September helped drop the third quarter foreclosure numbers to the lowest level since the fourth quarter of 2007.

Foreclosure filings were reported on 531,576 U.S. properties during the quarter, a decrease of 5 percent from the second quarter and a decrease of 13 percent from the third quarter of 2011 — the ninth consecutive quarter with an annual decrease in foreclosure activity.

The report also shows one in every 248 U.S. housing units with a foreclosure filing during the quarter.

“We’ve been waiting for the other foreclosure shoe to drop since late 2010, when questionable foreclosure practices slowed activity to a crawl in many areas, but that other shoe is instead being carefully lowered to the floor and therefore making little noise in the housing market — at least at a national level,” said Daren Blomquist, vice president at RealtyTrac.

“Make no mistake, however, the other shoe is dropping quite loudly in certain states, primarily those where foreclosure activity was held back the most last year.

For a complete copy of the company’s news release and full statistics, please contact:

Media Contacts:
Christine Stricker
949.502.8300, ext. 268

Jennifer von Pohlmann
949.502.8300, ext. 139

Historical & Detailed Data
Tyler White
949.502.8300 ext. 158

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