Industry NewsMarkets & Economy

Foreclosures level off in February

RealtyTrac: Filings expected to remain at high level
Published on Mar 11, 2010

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by CareyBot

Foreclosure-related filings were up 6 percent in February compared to a year ago, data aggregator RealtyTrac said today -- the smallest year-over-year increase in records dating to January 2006.

The 308,524 U.S. properties hit with foreclosure-related filings during the month represented a 2 percent decrease from January, and February was a shorter month by three days.

The leveling of foreclosure-related filings is not necessarily evidence that fewer homeowners are in distress and at risk for foreclosure, RealtyTrac CEO James Saccacio said in a press release.