Foreclosures down in 3Q
Oct. 15, 2013 – The number of homes on the foreclosure path dropped to a seven-year low in the third quarter, according to reports.
Quoted by CNBC.com, foreclosure listing firm RealtyTrac said last week that “foreclosure starts declined 13 percent from the previous quarter and were down 39 percent from the third quarter last year.”
Foreclosure starts fell on an annual basis in the third quarter in 38 states and increased from a year earlier in 11 states.
Completed foreclosures rose 7 percent in the third quarter versus the April-June period, RealtyTrac said. However, completed foreclosures were down 24 percent from the third quarter last year.
The firm said 119,485 homes were taken back by lenders in the July-September quarter, which puts the nation on pace to end this year with about 507,497 completed foreclosures – down about 24 percent from 2012’s total.