Foreclosure activity drops to lowest level in five years | Real Estate ...

By Dennis Norman, on October 11th, 2012

Foreclosure activity in the U.S. in September declined bringing foreclosure activity for the third quarter of 2012 to the lowest level in five years according to a report released this morning by RealtyTrac. This is good news for the housing industry as foreclosures negatively impact home prices and neighborhoods so this is yet another sign the housing market is headed toward recovery.? Foreclosure activity was reported on 180,427 properties in the U.S. in September, down 7 percent from August and down 16 percent from the year before.

Report highlights ? September 2012:

• ?The national decrease in September and the third quarter was driven mostly by sizable decreases in the non-judicial foreclosure states such as California, Georgia, Texas, Arizona and Michigan.

• Several judicial foreclosure states ? including Florida, Illinois, Ohio, New Jersey and New York ? continued to buck the national trend, registering substantial year-over-year increases in foreclosure activity in September and the third quarter.
• U.S. foreclosure starts in the third quarter decreased both from the previous quarter and a year ago, reversing a bump in foreclosure starts in the second quarter.
• California foreclosure starts (NOD) in September decreased 18 percent from the previous month and were down 45 percent from a year ago to a 69-month low, although the state?s foreclosure rate still ranked in the top three for the month and quarter.
• Florida foreclosure starts (LIS) in September increased 24 percent on a year-over-year basis, the 11th consecutive month with an annual increase, and the state?s foreclosure rate ranked highest nationwide for the first time since April 2005.

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Related posts:

1. Foreclosure activity falls to lowest level since 2007 This morning, RealtyTrac released their U.S. Foreclosure Market Report...
2. Foreclosure activity is down for first half of year; ?New foreclosures are up This morning RealtyTrac? released its Midyear 2012 Foreclosure Market Report,...
3. Foreclosure activity in May up 9 percent from month before This morning, RealtyTrac released their U.S. Foreclosure Market Report...
4. Foreclosure actions in 2011 hit lowest level since 2007! This morning, RealtyTrac released their 2011 year-end U.S. Foreclosure...
5. U.S. Foreclosure activity decreasing in the west and on the rise in the midwest and east This morning, RealtyTrac released their U.S. Foreclosure Market Report...

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Source: http://www.realestateindustrynews.com/foreclosures/foreclosure-activity-drops-to-lowest-level-in-five-years/

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