Foreclosure Activity Declines in July

Irvine, CA, Aug. 9, 2012 -- Overall foreclosure activity declined 3% in July compared with June, according to tracking firm RealtyTrac.

Foreclosure activity was also down 10% compared with last year. That’s the lowest level of activity since April.

“U.S. foreclosure activity continued its uneven descent in July as the overall numbers declined on an annual basis for the 22nd straight month, but properties starting the foreclosure process increased on an annual basis for the third straight month,” said Daren Blomquist, vice president of RealtyTrac, in a press release.

Foreclosure starts rose 6% in July, compared with a year ago, the third month in a row with an annual increase.

“Recent foreclosure activity patterns vary significantly from state to state, often hinging on the level of dysfunction that exists in each state’s foreclosure process,” Blomquist said.