U.S. foreclosure rates continue steady drop
The home is apparently open for business again. September marked 36 consecutive months that U.S. foreclosure activity declined when compared to the same month the year before, according to numbers released by RealtyTrac. The company’s latest U.S. Foreclosure Market Report notes 131,232 homes were foreclosed during September, a 2 percent increase from August, but a 27 percent decrease from September 2012.
The report — which tracks default notices, scheduled auctions and bank repossessions — states the September decrease is part of a third quarter that has seen the lowest quarterly numbers for foreclosure activity since second quarter 2007. In total, there were 376,931 foreclosure filings in the third quarter, 7 percent fewer than in the previous quarter and 29 percent fewer than third quarter 2012, marking the largest annual decrease since third quarter 2011.