Foreclosure Activity Decreases

Aug 15, 2013

The U.S. is on track to end the year with the fewest homes repossessed by lenders in six years.

The foreclosure listing firm RealtyTrac says lenders repossessed nearly 37-thousand U.S. homes last month, down 31 percent from the same month last year. Spokesperson Daren Blomquist.

Blomquist says foreclosures are projected to total nearly 490 thousand this year, 27 percent below 2012's total and the fewest foreclosures since 2007. Blomquist says Ohio posted the nation's third highest foreclosure rate for the month, with one in every 639 units receiving a filing. Including July, Ohio foreclosure activity has decreased for three consecutive months after hitting a 33-month high in April. He credits rising home prices and a gradually improving job market for the U.S. decline in July.