US Foreclosure Filings Down 3% in July
(NEW YORK) -- The number of U.S. households that received a foreclosure notice dropped in July and was down from a year ago, according to the latest report from RealtyTrac.
The foreclosure tracking firm said on Thursday that 191,925 properties were hit with foreclosure filings last month, marking a 3 percent drop from June and a 10 percent decrease from July 2011.
While initial foreclosure activity was up on an annual basis for the third straight month in July, RealtyTrac Vice President Daren Blomquist says the overall trend has been positive.
"For the past 22 months there has been a decrease in foreclosure activity nationwide," he says.
The exceptions are Arizona, California and Florida, which, Blomquist notes, are still reporting higher than normal foreclosures. Yet, he says the future for the housing market looks brighter.
"We're headed in the right direction. We are past the worst of this foreclosure crisis and on the downslope so that's good news," Blomquist says.
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