Home Repossessions Hit Five-Year Low
Irvine, CA, April 11, 2013 -- Home repossessions last month fell to the lowest level in more than five years, according to tracking firm RealtyTrac.
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Home repossessions fell 3% in March from the previous month and were down 21% from a year earlier, even though some areas saw increased foreclosures.
At the current monthly pace, completed foreclosures will total roughly 550,000 this year, down from 671,000 last year, RealtyTrac said.
Job growth and historically low mortgage rates are helping the housing market recover.