IRVINE, CA – RealtyTrac® (www.realtytrac.com), the leading
online marketplace for foreclosure properties released its Year-End 2013 U.S.
Foreclosure Market Report™, which shows foreclosure filings — default notices,
scheduled auctions and bank repossessions — were reported on 1,361,795 U.S.
properties in 2013, down 26 percent from 2012 and down 53 percent from the peak
of 2.9 million properties with foreclosure filings in 2010.
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| Daren Blomquist |
The 1.4 million total properties with foreclosure filings in
2013 was the lowest annual total since 2007, when there were 1.3 million
properties with foreclosure filings.
The report also shows that 1.04 percent of U.S. housing
units (one in every 96) had at least one foreclosure filing during the year,
down from 1.39 percent of housing units in 2012 and down from a peak of 2.23
percent of housing units in 2010.
“Millions of homeowners are still living in the shadow of
the massive foreclosure crisis that the country experienced over the past eight
years since the housing price bubble burst — both in the form of homes lost to
directly to foreclosure as well as home equity lost as a result of a flood of
discounted distressed sales,” said Daren Blomquist, vice president at
RealtyTrac.
“But the shadow cast by the foreclosure crisis is shrinking
as fewer distressed properties enter foreclosure and properties already in
foreclosure are poised to exit in greater numbers in 2014 given the greater
numbers of scheduled foreclosure auctions in 2013 in judicial states — which
account for the bulk of U.S. foreclosure inventory.
“The push to schedule these auctions is certainly coming at
an opportune time for the foreclosing lenders,” Blomquist added.
“There is unprecedented demand from institutional investors
willing to pay with cash to buy at the foreclosure auction, helping to raise
the value of properties with a foreclosure filing in 2013 by an average of 10
percent nationwide.”
For a complete copy of the company’s news release, please
contact:
Jennifer Von Pohlmann
949.502.8300, ext. 139
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