Foreclosures Fall To Multi-Year Lows
Irvine, CA, Dec. 12, 2013 -- The number of homes entering the foreclosure process or ending up repossessed by lenders has fallen to multi-year lows, according to tracking firm RealtyTrac.
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Lenders began foreclosure against 52,826 homes in November, down 10% from the previous month and a drop of 32% from November last year, RealtyTrac said.
The last time the number of foreclosure starts was lower was in December 2005.
Foreclosure starts increased on an annual basis in 15 states.
The number of homes completing the foreclosure process also decreased.
Completed foreclosures fell to the lowest level since July 2007.
At the end of November, 734,205 U.S. homes were in the foreclosure process, down 24% from a year ago.