Foreclosure Activity Plunges (But With An Asterisk)
November marked the first time since February 2009 that the number of monthly foreclosures filings failed to surpass 300,000 units.
November marked the first time since February 2009 that the number of monthly foreclosures filings failed to surpass 300,000 units.
As usual, foreclosure density varied by region last month, with just 5 states accounting for close to half of the nation's repossessed homes.
Foreclosures are a big part of the housing market, with distressed properties accounting for 35 percent of all home resales last month, according to the National Association of REALTORS®. But for as common as foreclosures can be, they remain a localized concern.
The number of foreclosure filings rose 3 percent in September, according to foreclosure-tracking firm RealtyTrac.
Despite foreclosure filings surpassing 300,000 for the 18th straight month, RealtyTrac's monthly foreclosure report shows some bright spots for housing.
Foreclosure filings rose 4 percent nationwide last month versus June, according to foreclosure-tracking firm RealtyTrac.com. For the 17th straight month, total filings topped 300,000. 6 states dominated activity levels.
June marks the 16th straight month the filings topped 300,000. 1 in every 411 U.S. homes received some form of notice last month with foreclosure density varying wildly from state-to-state. Like everything else in real estate, it seems, foreclosures are a local phenomenon.
According to foreclosure-tracking firm RealtyTrac.com, the number of foreclosure notices dropped 2 percent between April 2009 and April 2010. 2 percent may not seem like much, but it's the first time in the history of the RealtyTrac report that the annual foreclosure rate has dropped.
California, Florida, Arizona and Georgia accounted for more than half of all bank repossessions in March 2010. It's a disproportionate distribution of foreclosures. Together, the 4 states represent just 23 percent of the overall U.S. population.
According to foreclosure-tracking firm RealtyTrac, foreclosure filings topped 300,000 for the 12th straight month last month as 1 in every 418 U.S. homes received a foreclosure filing.
For as much as the foreclosure filing statistics can be astounding -- over 300,000 homes were served last month alone -- the prevalence of foreclosures depends on where you live.
Versus 2008, foreclosures are up 21 percent nationwide and that's a big number, but a deeper look at RealtyTrac's annual reports reveals a more positive undertone on the housing market.