Foreclosure Activity Up in First Six Months

Irvine, CA, July 26, 2012 -- Total foreclosure activity increased in the first half of this year from the previous six months, according to online foreclosure tracking firm RealtyTrac.

“Those foreclosure starts are welcome news for prospective buyers and real estate brokers in many local markets where a shortage of aggressively priced inventory has been holding up sales activity," said Brandon Moore, CEO of RealtyTrac.

"Markets with increasing foreclosure starts will likely see more distressed inventory for sale in the form of short sales and bank-owned properties in the second half of the year,” said Brandon Moore, CEO of RealtyTrac.

More than half of the 212 metropolitan areas RealtyTrac surveys saw increases in foreclosure starts.

New foreclosures rose in more than 60% of metro markets.