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March Goes Out Like a Lamb

A glimmer of hope or the calm before the storm?

Whichever way you choose to view it, the good news is that the national foreclosure rate dropped by 13% in March, according to the RealtyTrac U.S. Foreclosure Report, which was issued earlier today. See the full report on the RealtyTrac website at http://www.realtytrac.com/news/press/pressRelease.asp?PressReleaseID=100.

Even with the drop, over 100,000 new properties entered some stage of foreclosure in March, and the foreclosure rate still represented a 63% increase over March 2005.

Will Spring sales keep foreclosure rates from creeping up? Or is this just a momentary reprieve? Let us know what you think.

rsharga

Posted: Tue, April 18 2006 6:37 PM by rsharga
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Comments

Forclemture said:

My prediction is that in the next two years we will have more people entering into foreclosure than ever before.  There is just too much inventory out there, especially in the previous 'hot' markets such as Phoenix and San Diego.  The time table is related also to the ARMS that will be readjusting over the next few years.  I am open to other viewpoints who may think I'm wrong.
# April 20, 2006 11:25 AM
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