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.

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.

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