Foreclosure Filings Decline in November

Irvine, CA, Dec. 15, 2011 -- Foreclosure filings fell in November but the number of homes scheduled for bank auctions grew significantly, according to tracking firm RealtyTrac.

That could indicate that the pace of foreclosures will pick up next year.

RealtyTrac said that foreclosure auctions were scheduled on 96,540 properties, an increase of 13% compared with October.

The number of foreclosure filings dropped to 224,394 properties in November, a 3% decrease from October and a 14% drop from last year, RealtyTrac said.

During the month, one in every 579 housing units received either a default notice or underwent a scheduled auction or bank repossession.

The number of completed foreclosures fell to 56,124 homes, a 17% decline from a month earlier and the fewest since March 2008. They down 45% from their September 2010 high point.