Housing

Foreclosure Filings Down 34% in August -- RealtyTrac

RealtyTrac produced more evidence that the housing market is in an impressive recovery. Unfortunately, the trend has left several states behind.

In a statement:

RealtyTrac released its U.S. Foreclosure Market Report for August 2013, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 128,560 U.S. properties in August, a decrease of 2 percent from the previous month and down 34 percent from August 2012 — the 35th consecutive month where foreclosure activity has decreased on an annual basis. The report also shows one in every 1,019 U.S. housing units with a foreclosure filing during the month.

And:

The decrease in overall foreclosure activity was driven largely by falling foreclosure starts in August. A total of 55,775 U.S. properties started the foreclosure process during the month, down 44 percent from a year ago to the lowest level since December 2005.

However:

Foreclosure starts did increase from the previous month in 17 states, including Nevada (up 226 percent), Ohio (up 44 percent), Maryland (up 24 percent), California (up 12 percent), and New York (up 8 percent).

The states most damaged by the collapse in the housing bubble continued to struggle:

Nevada’s foreclosure rate ranked highest nationwide, supplanting Florida at the No. 1 spot. Florida’s foreclosure rate fell to second highest, followed by Ohio, Maryland and Delaware.

Florida cities accounted for six of the 10 highest metropolitan foreclosure rates, down from nine of the top 10 in the previous month. Also in the top 10 metro foreclosure rates were Las Vegas and three Ohio cities: Toledo, Cleveland and Akron.

At these rates, it will take some markets years to recover, if they ever do, entirely.

Smart Investors Are Quietly Loading Up on These “Dividend Legends” (Sponsored)

If you want your portfolio to pay you cash like clockwork, it’s time to stop blindly following conventional wisdom like relying on Dividend Aristocrats. There’s a better option, and we want to show you. We’re offering a brand-new report on 2 stocks we believe offer the rare combination of a high dividend yield and significant stock appreciation upside. If you’re tired of feeling one step behind in this market, this free report is a must-read for you.

Click here to download your FREE copy of “2 Dividend Legends to Hold Forever” and start improving your portfolio today.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.