Foreclosure starts are down 13 percent from a year ago when they had reached a 17-month high, RealtyTrac reports. Foreclosure starts include default notices or scheduled foreclosure auctions.
Many experts had been predicting a foreclosure wave to occur this summer with foreclosures reaching elevated levels. But the “wave” has yet to materialize. Foreclosure starts increased 1 percent in August from July but remain well-below year ago levels.
Several states saw large decreases in foreclosure starts in August:
Oregon – 89% decrease
Nevada – 64% decrease
Utah– 57% decrease
Massachusetts – 47% decrease
California – 42% decrease
Arizona – 41% decrease
Georgia – 31% decrease
Foreclosure filings—which includes default notices, scheduled auctions, and bank repossessions—increased 1 percent in August compared to July, but were still down 15 percent from last year’s levels. Also, bank repossessions decreased in August by 2 percent compared to the previous month, marking the 22nd month for declines, RealtyTrac reported.
The author of this article is: realtormag.realtor.org
See the original post at: http://realtormag.realtor.org/daily-news/2012/09/18/foreclosures-continue-fall-last-years-levels
At GayRealEstate.com, we keep you updated with all the gay realtor, lesbian realtor, gay realty, gay real estate and general real estate news affecting the LGBT community coast to coast, and in your neighborhood.
Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.
If you have a real estate story that you’d like to share with us with the gay and lesbian real estate community, please contact us at: manager@gayrealestate.com
