Industry NewsMortgage

Foreclosures plateau at new high

RealtyTrac sees more homes in initial stages of process
Published on May 13, 2009

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by CareyBot

The number of foreclosure-related filings on U.S. homes increased slightly from March to April, hitting a new high for the downturn, according to data aggregator RealtyTrac.

The 342,038 foreclosure-related filings recorded by RealtyTrac in April represented an increase of less than 1 percent from March, but a 32 percent increase from the year before. The rate of filings -- one for every 374 homes -- represented a high dating back to January, 2005, when RealtyTrac began reporting.