A sure-fire sign of an improving real estate market is the fall of foreclosure activity, and luckily those trends are down throughout the nation for the eighth consecutive month, according to RealtyTrac’s newly released data.
- RealtyTrac reported foreclosure activity is below 2006 levels throughout the nation, but 18 states are still posting gains.
- All San Francsico Bay Area counties posted decreases in foreclosure activity on a monthly and annual basis.
- The biggest fall was reported in Marin County, where foreclosure rates fell 91.84 percent annually and 60 percent monthly.
A sure-fire sign of an improving real estate market is the fall of foreclosure activity, and luckily those trends are down throughout the nation for the eighth consecutive month, according to RealtyTrac‘s newly released data.
Monitoring foreclosure activity throughout the nation down to a city level, the data showed that foreclosure activity is below 2006 average monthly levels.
However, not all states are measuring equally. RealtyTrac reported 18 states and the District of Columbia posted a year-over-year increase in foreclosures. The highest foreclosure rates were seen in Delaware, Florida, Nevada, Maryland and New Jersey.
In the San Francisco-Oakland-Hayward metro area, a total of 563 homes were reported in the foreclosure process, or one in every 3,117 homes.
Foreclosure activity in Bay Area counties dipped 39.20 percent since May 2015 and 21.81 percent since April 2016.
Breaking it down by county, Marin posted the biggest dip, with a 91.84 percent fall annually and 60 percent monthly. Contra Costa County had the smallest decline of 16.67 percent over April 2016, and Alameda had the smallest annual dip annually, at 28.22 percent.
San Francisco County dipped 30.95 percent monthly and 33.33 percent annually to have a total of 58 foreclosed properties.