Foreclosures Up in May but Trend Still Lower
Irvine, CA, June 13, 2013 -- Completed foreclosures rose 11% nationally in May from the previous month, listing firm RealtyTrac Inc. said.
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The monthly pick up reflects a rise in homes entering the foreclosure process last year.
Home repossessions, however, were down 29% from May last year, continuing the longer term trend.
Foreclosure starts also rose 4% in May but were down 33% from a year ago.
Rising home prices and stronger demand are helping banks recoup their losses, the firm said.