IRVINE, CA—Certain foreclosure actions were up 7% in the month of July, according to a report released today by RealtyTrac.

A total of 124,910 US properties were subjects of default notices, scheduled auctions and bank repossessions for the month. That is also up 14% from a year ago, according the July 2015 U.S. Foreclosure Market Report from RealtyTrac. July was the fifth consecutive month with a year-over-year increase in overall foreclosure activity following 53 consecutive months of decreases.

“The increase in overall foreclosure activity over the last five months has been driven primarily by rapidly rising bank repossessions, which in July reached the highest level since January 2013,” said Daren Blomquist, vice president at RealtyTrac. “Meanwhile foreclosure starts in July were at the lowest level since November 2005 — a nearly 10-year low that demonstrates the recent rise in bank repossessions represents banks flushing out old distress rather than new distress being pushed into the pipeline.”

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.