In recent news, the rate of U.S. foreclosure activity has increased 15% since last month.
The U.S. Foreclosure Market Report from this October was released last week, with a 15% increase in activity, including default notice, repossessions, and scheduled auctions. This report, released by RealtyTrac, shows the largest month-to-month increase in activity since March 2010, with 1 in 1,069 homeowners filing for foreclosure.
However, this is not necessarily a ‘panic-mode’ scenario. Not only was this very definitely predicted, says Dalton Blomquist, vice president of RealtyTrac, but activity is still down 8% from its standing last October.
For more information, check out this comprehensive article from RISMedia, complete with clarification, other high-level figures, and even charts of the data.