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| Daren Blomquist |
IRVINE, CA — RealtyTrac®
(www.realtytrac.com), the nation’s leading source for comprehensive housing
data, today released its Q3 and September 2015 U.S. Foreclosure Market Report™,
which shows a total of 327,258 U.S. properties with foreclosure filings —
default notices, scheduled auctions and bank repossessions — in the third
quarter of 2015, down 5 percent from the previous quarter but up 3 percent from
the third quarter of 2014.
“The widespread rise in foreclosure activity
in the third quarter compared to a year ago is the result of two starkly
different trends taking place,” said Daren
Blomquist, vice president at RealtyTrac.
“In states such as New
Jersey, Massachusetts, and New York, a flood of deferred distress from the last
housing crisis is finally spilling over the legislative and legal dams that
have held back some foreclosure activity for years.
“That deferred distress
often represents properties with deferred maintenance that will sell at more
deeply discounted prices, creating a drag on overall home values.
“On the other hand, in
states such as Texas, Michigan and Washington, the third quarter increases are
a sign that the foreclosure market has settled into a normalized pattern close
to or even below pre-crisis levels, and in those states the overall housing
market should easily absorb the additional foreclosure activity with little
impact on home values.”
For a complete copy of the company’s news release,
please contact:
Jennifer von Pohlmann
Sr. Data PR Manager
Office: 949.502.8300 ext 139
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