U.S. Foreclosure Activity Falls

Foreclosure activity across the United States fell 1 percent last month, as banks scheduled fewer auctions even as they reclaimed more homes, a report from RealtyTrac said on Thursday.

The latest drop brought foreclosure activity, which includes foreclosure notices, scheduled auctions and bank repossessions, 20 percent below its year-ago level. It was the 43rd consecutive month foreclosure activity was down on an annual basis.

According to RealtyTrac, which tracks and compiles housing market data, 115,830 homes were at some stage of the foreclosure process last month. On the eve of the economic downturn in 2006, foreclosure activity was running at about 85,000 properties a month. U.S. foreclosures peaked at 2.9 million properties with filings in 2010.

Reuters

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