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| Daren Blomquist |
Bank Repossessions Increase Annually for the First Time
since October 2010
IRVINE, CA – Dec. 13, 2012 — RealtyTrac® (www.realtytrac.com), the leading online
marketplace for foreclosure properties, today released its U.S. Foreclosure
Market Report™ for November 2012, which shows foreclosure filings — default
notices, scheduled auctions and bank repossessions — were reported on 180,817
U.S. properties in November, a decrease of 3 percent from October and down 19
percent from November 2011 — marking the 26th consecutive month with an annual
decrease in foreclosure activity.
The report also shows one in every 728 U.S. housing units
with a foreclosure filing during the month.
“The drop in overall foreclosure activity in November was
caused largely by a 71-month low in foreclosure starts for the month, more
evidence that we are past the worst of the foreclosure problem brought about by
the housing bubble bursting six years ago,” said Daren Blomquist, vice
president at RealtyTrac.
“But foreclosures are continuing to hobble the U.S. housing
market as lenders finally seize properties that started the process a year or
two ago — and much longer in some cases.
“ We’re likely not completely out of the woods when it comes
to foreclosure starts, either, as lenders are still adjusting to new
foreclosure ground rules set forth in the National Mortgage Settlement along
with various state laws and court rulings.”
For a complete copy of the company’s news release and
statistics, please contact:
Jennifer von Pohlmann
949.502.8300, ext. 139
Ginny Walker
949.502.8300, ext. 268
Data and Report Licensing:
Data Sales Department
800.462.5193
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