Sunday, April 14, 2013

Decline?

"Nationally, foreclosure activity continues to decline, according to RealtyTrac, an Irvine, Calif.-based foreclosure listing site. In March the number of filings fell 1% from February and 21% from a year earlier, and home repossessions hit their lowest level in five and a half years. The national level declines have been driven by dramatic decreases in areas long considered foreclosure hot spots like California, Arizona, Georgia and Michigan.
States With The Largest Increases In Foreclosure Starts In March

The marco-level data sound very promising. But dig deeper into RealtyTrac’s first quarter report and you’ll also find that a handful of states are actually bucking that recovery trend, experiencing dramatic jumps in the number of homes facing foreclosure.

“Overall we are continuing to see a downward trend nationwide with 30 straight months of year-over-year decrease in activity,” says Daren Blomquist, vice president of RealtyTrac. “That said,  there are still these problem spots that are continuing to see foreclosure flare ups, including areas where it didn’t seem to be a problem in the past.”

In the first quarter of 2013, 11 states experienced increases in foreclosure activity compared to a year earlier. Maine experienced the most dramatic jump: a 327% increase in filing activity. Other states where foreclosures surged by triple digits were Arkansas (150%), Maryland (123%), Washington (126%), and New York (114%)."

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