Foreclosures Lowest Since Q2 2007 as Starts Plummet to 7-Year Low

Julie C. Nichols General – Carrie Ray

There were a total of 376,931 U.S. properties with foreclosure filings (default notices, scheduled auctions, and bank repossessions) in the third quarter of 2013, RealtyTrac reported Thursday.

The Q3 figure represents a 7 percent decline from the previous quarter and a 29 percent decline from the third quarter of 2012—the biggest annual decrease recorded since the second quarter of 2011.

By RealtyTrac’s calculations, one in every 348 U.S. housing units had a foreclosure filing last quarter.

“September was the 36th consecutive month with an annual decrease in U.S. foreclosure activity, a downward trend that started in October 2010 when lenders and servicers were accused of improperly signing off on foreclosure documents with a practice dubbed robo-signing,” RealtyTrac noted in its report.

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