Local News

Foreclosures fall to lowest levels since 2007

The latest figures show the housing market is on the upswing.

The number of houses lost to foreclosure is close to the levels seen before the housing meltdown.

The number of foreclosure filings last quarter fell 23percent from a year ago. It’s the lowest level since 2007.

Last month, banks repossessed about 44,000 homes.

At the height of the housing meltdown in 2010, repossessions topped 100,000 a month.

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3 Comments to “Foreclosures fall to lowest levels since 2007”

    Lu Plonski said:
    April 11, 2013 at 10:17 PM

    Great news.. hope it keeps coming along~ we needed the Economy to pick up badly!!

    Phil Ludlow said:
    April 12, 2013 at 5:58 AM

    Be aware. The banks are regulating the number of foreclosure by not filing foreclosure for 1, 2, or 3 years after owners stop making payments. The banks figured out they were flooding their own market of repos with more of their repos. The real estate market has increased but not in the repo buying. Buyers and investors are not putting up with the disconnected, disrespectful m o of the bank. Thus the shortage of inventory is drastic but only in owner occupied well maintained properties.

    sheilabrooklyn said:
    April 12, 2013 at 7:00 AM

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