DataMarkets & Economy

LA foreclosure activity down more than 20 percent in one year

RealtyTrac's data finds national foreclosure rates have fallen for the eighth consecutive month
  • RealtyTrac reported foreclosure activity is below 2006 levels throughout the nation, but 18 states are still posting gains.
  • Los Angeles and Orange counties both posted foreclosure activity falls annually and monthly in May 2016.
  • The L.A. metro saw a total of 2,672 homes in foreclosure activity.

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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. A few metro areas witnessed gains in foreclosure activity as well, including Rockford, Illinois; Trenton, New Jersey; Tuscon, Arizona and St. Petersburg, Florida. The Los Angeles real estate market is picking itself out of foreclosures at a steady and stable pace, according to the report. Both counties RealtyTrac reported on, Los Angeles and Oran...