Thursday, February 13, 2014

RealtyTrac Reports Bank Repossessions Decrease 4 Percent to Lowest Level Since July 2007; Foreclosure Starts Increase More Than 50 Percent Annually in MD, CT, NJ, CA






Daren Blomquist
IRVINE, CA,  Feb. 13, 2014 — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its U.S. Foreclosure Market Report™ for January 2014, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 124,419 U.S. properties in January an 8 percent increase from December but still down 18 percent from January 2013.

The report also shows one in every 1,058 U.S. housing units had a foreclosure filing during the month.

January marked the 40th consecutive month where U.S. foreclosure activity declined on an annual basis, but the annual decline of 18 percent was the smallest annual decline since September 2012, and the 8 percent monthly increase was the biggest month-over-month increase since May 2012.

“The monthly increase in January foreclosure activity was somewhat expected after a holiday lull, but the sharp annual increases in some states shows that many states are not completely out of the woods when it comes to cleaning up the wreckage of the housing bust,” said Daren Blomquist, vice president at RealtyTrac.

 “The foreclosure rebound pattern is not only showing up in judicial states like New Jersey, where foreclosure activity reached a 40-month high in January, but also some non-judicial states like California, where foreclosure starts jumped 57 percent from a year ago, following 17 consecutive months of annual decreases.”

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

Jennifer von Pohlmann
PR Manager
Office: 949.502.8300 ext 139

No comments:

Post a Comment