Foreclosures Fall Sharply in Third Quarter

Irvine, CA, Oct. 25, 2012 -- Foreclosures declined in 62% of the nation's largest metropolitan areas in the third quarter, according to tracking firm RealtyTrac.

During September, foreclosure activity in 58% of the major metro markets had dropped below September 2007 levels.

The numbers indicate that "most of the nation's housing markets are past the worst of the foreclosure problem," Daren Blomquist, RealtyTrac's vice president said in a statement.

San Francisco, Detroit, Los Angeles, Phoenix and other areas saw foreclosures fall by double-digit percentages of 26% or more.

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