IRVINE, CA—RealtyTrac, a leading source for comprehensive housing data, has released its August 2015 U.S. Foreclosure Market Report, which shows a total of 109,561 US properties with foreclosure filings — default notices, scheduled auctions and bank repossessions — in August, down 12% from the previous month and down 6% from a year ago. The 6% year-over-year decrease in August followed five consecutive months with year-over-year increases.
The report also shows one in every 1,205 U.S. housing units had a foreclosure filing in August.
“Foreclosure starts in August continued to search for a new floor below even pre-recession levels, indicating the housing recovery of the past three years is built on a solid financing foundation,” said Daren Blomquist, vice president at RealtyTrac. “But the continued rise in bank repossessions indicates more batches of bank-owned homes will be rippling through the housing market over the next three to 12 months as lenders list these properties for sale.
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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.
