Foreclosure Activity Decreases 15 Percent in Q1 2011
Foreclosure filings were reported on 681,153 U.S. properties in the first quarter, a 15 percent decrease from the previous quarter and down 27 percent from the first quarter of 2010, according to RealtyTrac. “Weak demand, declining home prices and the lack of credit availability are weighing heavily on the market, which is still facing the dual threat of a looming shadow inventory of distressed properties and the probability that foreclosure activity will begin to increase again as lenders and servicers gradually work their way through the backlog of thousands of foreclosures,” said James J. Saccacio, chief executive officer of RealtyTrac. Complete Story
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