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RealtyTrac: November foreclosure activity hints at rising tide (CHARTS)

California, Arizona post annual increases amid U.S. seasonal dip
Published on Dec 15, 2011

After rising in October, foreclosure activity fell slightly on a monthly basis in November, but some signs point to a coming increase in early 2012, according to a report from foreclosure data site RealtyTrac. One in every 579 housing units, or 224,394 properties, received a foreclosure filing -- a default notice, scheduled auction, or bank repossession -- in November. That's a 3 percent drop from October and a 14 percent drop from November 2010 -- the smallest year-over-year decline in the past year. "Despite a seasonal slowdown similar to what we've seen in each of the past four years, November's numbers suggest a new set of incoming foreclosure waves, many of which may roll into the market as REOs (bank-owned homes) or short sales sometime early next year," said James Saccacio, co-founder of RealtyTrac, in a statement. "Overall foreclosure activity is down 14 percent from a year ago, the smallest annual decrease over the past 12 months, and some bellwether...

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