July 14, 2024

Home Foreclosures

home foreclosuresRealtyTrac Inc. reported today that the US housing market is on track to finish the year with the fewest homes repossessed by lenders in the last six years!

Last month lenders 36,964 homes, this was down 31% from July 2012! Home foreclosures are projected to be approximately 490,000 this year, although the sound like a lot, it’s actually down approximately 27% from last year’s totals.

Home foreclosures hit their peak in 2010, at approximately 1.0 5 million, and since then have been steadily declining. The declining foreclosure trend has accelerated as housing markets throughout the country have been improving.

It’s been reported that on an annual basis in 18 states last month, including Arkansas, Oklahoma, New York and Ohio home foreclosures rose.

In 12 states, which include Texas, Colorado, Michigan and Indiana foreclosure activity was at or below the average monthly levels seen before. The housing crash!

CoreLogic, a data provider, reported that approximately 19.8% of all US homes with a mortgage had negative equity as of the end of the first quarter of 2013. But, that figure of negative equity homeowners was down approximately 21.7, when compared to the end of 2012.

Florida registered the highest or closure rate last month approximately 3 times the national average as reported by RealtyTrac.

Home Foreclosures