Monday, June 25, 2012
Tuesday, April 24, 2012
Tuesday, January 17, 2012
In 2011, the number of homes receiving foreclosure filings dropped 34% from 2010. About 804,000 homes were repossessed, a number that is significantly lower than any in recent years.
But this period of slight relief will not be long lived...
RealtyTrac Inc. released data that indicates a possible 25% increase in property repossessions in the next year.
Foreclosures hit a slowdown in 2011 with issues in the legal processes, which Brandon Moore, CEO of RealtyTrac, referred to as “highly dysfunctional.”
“Foreclosures were in full delay mode in 2011, resulting in a dramatic drop in foreclosure activity for the year,” Moore added.
But the second half of the year showed signs of a rise in this, and one that analysts expect to continue well through 2012.
Daren Blomquist of RealtyTrac said that had foreclosures stayed on track in 2011, the number of repossessions would have been upwards of one million.
Thursday, January 12, 2012
Tuesday, December 27, 2011
U.S. home prices fell in most major cities for the second straight month, further evidence that the housing recovery will be bumpy.
The Standard & Poor's/Case-Shiller index shows prices dropped in October from September in 19 of the 20 cities tracked. Prices in a majority of cities declined for the second straight month. Prior to that, they had risen for five consecutive months in at least half of the cities tracked.
Atlanta, Detroit and Minneapolis posted the biggest monthly declines.
Prices in Atlanta and Las Vegas fell to their lowest points since the housing crisis began. Prices rose in Phoenix after three straight monthly declines.
The Case-Shiller index covers half of all U.S. homes. It measures prices compared with those in January 2000 and creates a three-month moving average.