Thursday, December 11, 2014

RealtyTrac Reports U.S. Foreclosure Activity Decreases 9 Percent in November Despite First Annual Increase in Starts Since July 2012


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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