The Good Old Days are Back! Foreclosures Fall to Pre-Bubble Levels | Bedford Corners NY Homes
New foreclosure activity data from June, when a total of 107,194 U.S. properties had a foreclosure filing, fell 2 percent from the previous month and was down 16 percent from a year ago to lowest level since July 2006, before the housing price bubble burst
Total foreclosure activity in June was the lowest since the housing bubble burst in August 2006 in 10 states, including Texas, Georgia, Colorado, Tennessee, Arizona and Nevada, according to the latest foreclosure report from RealtyTrac.
“Nationwide foreclosure activity in June reached an important milestone, dropping to levels not seen since before the housing price bubble burst in August 2006,” said Daren Blomquist, vice president at RealtyTrac. “Over the next six to nine months nationwide foreclosure numbers should start to flat line at consistent historically normal levels.
“There continue to be concerning trends in some states and local markets that clearly indicate those markets are not completely out of the woods when it comes to the lingering foreclosure problem left over from the housing bust,” Blomquist continued. “While it’s important that any remaining foreclosure infection is addressed promptly to keep it from festering, foreclosures are no longer a widespread contagion threatening to derail the housing market’s return to full health.”
June reported a total of 613,874 U.S. properties with foreclosure filings — default notices, scheduled auctions and bank repossessions — in the first half of 2014, a 19 percent decrease from the previous six months and down 23 percent from the first half of 2013. The report also shows that 0.47 percent of all U.S. housing units (one in 214) had at least one foreclosure filing in the first six months of the year.
read more.....
http://www.realestateeconomywatch.com/2014/07/the-good-old-days-are-back-foreclosures-fall-to-pre-bubble-levels/
Total foreclosure activity in June was the lowest since the housing bubble burst in August 2006 in 10 states, including Texas, Georgia, Colorado, Tennessee, Arizona and Nevada, according to the latest foreclosure report from RealtyTrac.
“Nationwide foreclosure activity in June reached an important milestone, dropping to levels not seen since before the housing price bubble burst in August 2006,” said Daren Blomquist, vice president at RealtyTrac. “Over the next six to nine months nationwide foreclosure numbers should start to flat line at consistent historically normal levels.
“There continue to be concerning trends in some states and local markets that clearly indicate those markets are not completely out of the woods when it comes to the lingering foreclosure problem left over from the housing bust,” Blomquist continued. “While it’s important that any remaining foreclosure infection is addressed promptly to keep it from festering, foreclosures are no longer a widespread contagion threatening to derail the housing market’s return to full health.”
June reported a total of 613,874 U.S. properties with foreclosure filings — default notices, scheduled auctions and bank repossessions — in the first half of 2014, a 19 percent decrease from the previous six months and down 23 percent from the first half of 2013. The report also shows that 0.47 percent of all U.S. housing units (one in 214) had at least one foreclosure filing in the first six months of the year.
read more.....
http://www.realestateeconomywatch.com/2014/07/the-good-old-days-are-back-foreclosures-fall-to-pre-bubble-levels/
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