One-Third of Metros at Pre-Crash Foreclosure Levels

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Posted To: MND NewsWire

Despite what was termed a seasonal increase in March, foreclosure activity in the first quarter of 2016 was at its lowest level in nine years . RealtyTrac’s U.S. Foreclosure Market Report covering both the first quarter and the month of March showed activity during the quarter had dropped below pre-recession levels in 36 percent or 78 of the 216 metro areas tracked by the company. There were a total of 108,970 foreclosure filings including default notices, scheduled auctions, and bank repossessions or completed foreclosures in March, an 11 percent increase from February and the highest total for a month since last October. Filings were still 11 percent lower than a year earlier. Even with the single month increase filings in the first quarter were 4 percent below those in the last quarter of…(read more)

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