Third Straight Month at 300,000 Plus

darenb — Thu, 11 Jun 2009 13:30:00 GMT

After hitting a record-high of more than 342,000 in April, U.S. foreclosure activity backed down 6 percent in May, with 321,480 properties receiving a foreclosure filing during the month, according to the RealtyTrac U.S. Foreclosure Market Report released...(read more)

Surprising Drop in January Foreclosure Activity

darenb — Wed, 11 Feb 2009 23:14:00 GMT

After a somewhat unexpected spike in December, foreclosure activity dropped 10 percent in January -- although the January total of 274,399 was the fourth highest monthly total since January 2005 and still up 18 percent from January 2008, according to the latest RealtyTrac U.S. Foreclosure Market Report. The monthly drop was uncharacteristic for a January: in each of the previous three years foreclosure activity had increased on a monthly basis in January. Unfortunately the dip is most likely not the harbinger of a housing recovery but a temporary slow down in activity resulting from various foreclosure prevention efforts instituted over the holidays and into January.

“The extensive foreclosure efforts on the part of lenders and government agencies appear to have impacted the January numbers — particularly the Fannie Mae and Freddie Mac moratorium on all foreclosure sales that was extended through the end of January along with Florida’s voluntary 45-day freeze on all new foreclosure actions and scheduling of foreclosure sales that was announced at the beginning of December,” said James J. Saccacio, chief executive officer of RealtyTrac. “January REOs, which represent completed foreclosure sales to the foreclosing lender, were down 15 percent nationwide from the previous month. And in Florida overall foreclosure activity was down 20 percent from the previous month.”

After increasing throughout most of 2008 to a peak in August, U.S. REOs have been steadily decreasing each month, with a drop of 15 percent from December to January.

Florida foreclosure activity dropped 20 percent from December 2008 to January 2009 after hitting a peak in September.

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Third Straight Month at 300,000 Plus

Surprising Drop in January Foreclosure Activity