Eileen's Blog

Foreclosures Fall to Lowest Level Since 2007

April 19th, 2013 3:19 PM by Eileen Denhard

Foreclosures Fall to Lowest Level Since 2007

During the first quarter, foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 442,117 U.S. properties, down 12 percent from the fourth quarter of 2012 and down 23 percent from a year ago, according to the latest data from RealtyTrac. This marks the lowest foreclosure level since the second quarter of 2007.

For the month of March, foreclosure filings were reported on 152,000 U.S. properties, down 1 percent from February and 23 percent below March 2012. Foreclosure starts totaled 73,113 in March, down 28 percent from a year ago but 2 percent above February, while bank repossessions fell 3 percent from February and were down 21 percent from a year ago.

Florida had the highest foreclosure rate in the country with one in every 104 housing units receiving a foreclosure filing in the first quarter, followed by Nevada with one in every 115 housing units with a foreclosure filing, and Illinois where one in every 147 housing units received one.. Florida cities accounted for seven of the 10 highest metro foreclosure rates in the first quarter.

By Regina Ludes, Thursday, 11 April 2013 - 9:29am

Posted in:General
Posted by Eileen Denhard on April 19th, 2013 3:19 PM

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