Industry News

U.S. real estate foreclosures fall 10% in April

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

The number of properties entering the foreclosure process dropped 10 percent in April from the previous month, but was up 33 percent from the same month a year ago, according to an industry report. A total of 91,168 properties nationwide entered some stage of foreclosure last month, according to RealtyTrac's April foreclosure market report. The report shows an April national foreclosure rate of one foreclosure filing for every 1,268 U.S. households. "Foreclosure filings have decreased 23 percent over the past two months after shooting up 40 percent in the first two months of the year," said James J. Saccacio, chief executive officer of RealtyTrac. "While the national foreclosure rate is still higher than it was in any month last year, this two-month downward trend indicates that housing markets in most areas of the country have remained strong enough to hold foreclosures in check despite rising interest rates and slowing home-price appreciation." Colorado posted the nation's highest ...