Print
EmailRealtyTrac: June foreclosures up for first time in three months
The number of U.S. homes that received foreclosure filings rose in June for the first time in three months, a survey said on Thursday, representing a small step toward clearing the housing market backlog, according to Reuters.
Notices of default, auction sale or bank repossession were sent to 222,740 properties in June, a 4 percent increase over May, real estate data firm RealtyTrac said.
Banks had slowed foreclosures, in part because they were worried about a flood of homes hitting the market and depressing prices and also as a result of a scandal involving alleged irregularities in their processing, said Rick Sharga, vice president of marketing at RealtyTrac.
The number of homes receiving foreclosure filings in the first six months of 2011 dropped by a quarter over the last half of 2010 and by 29 percent over the same period last year to 1,170,402 homes. One in 111 homes received at least one foreclosure filing in the first six months of this year.
Second-quarter data also showed a decrease in foreclosure filings, with only 608,235 receiving notices, the lowest since the fourth quarter of 2007.
For more information: http://www.reuters.com/article/2011/07/14/us-usa-economy-realtytrac-idUSTRE76D0GN20110714
More like this
- RealtyTrac: Foreclosure activity reached 40-month low in April
- RealtyTrac: Q1 foreclosure rate at lowest since 2007
- RealtyTrac indicates foreclosures in July were down 4% from previous month
- RealtyTrac indicates foreclosure filings dropped in November
- RealtyTrac Reports 6% Drop in May U.S. Foreclosure Activity
Comments on: "RealtyTrac: June foreclosures up for first time in three months"
RELATED ARTICLES
Flawed, unnecessary, and costly regulations burden small home builders by raising expenses and slowing the home building process. These hurdles ultimately rob builders of...
Towns experiment with different approaches to stimulate new-home building during the recovery; Home builder bonds still draw speculative grades; Ontario’s...
Search Our Buyer's Guide
Reference Library
Professional Remodeler’s annual Market Leaders list, which identifies the top...
With demand for custom design, remodeling, and renovations at its highest level since 2005, ...
Normandy Remodeling converts confined kitchen into sprawling galley.
Each year, the National Kitchen and Bath Association surveys its members to identify the latest...
Each year, the National Kitchen and Bath Association surveys its members to identify the latest...
