Foreclosure starts in February showed some pick-up in activity month-over-month, while REOs fell to their lowest level since September 2007, according to RealtyTrac’s foreclosure market report for February.
RealtyTrac reported a 10 percent increase in foreclosure starts from January after three straight months of declines. Year-over-year, foreclosure starts were still down 25 percent.
Bank repossessions, or REOs, hit a 65-month low in February, according to RealtyTrac, and were 11 percent lower from the previous month and down 29 percent from February 2012.
Overall, 154,281 properties in February were handed some type of foreclosure filing, which includes default notices, scheduled auctions, and bank repossessions. The total represents a 2 percent increase from January and a 25 percent decrease from year ago levels.
“At a high level the
According to the report, 32 states saw a month-over-month increase in foreclosure starts, while 16 experienced yearly increases.
A handful of states saw foreclosure starts surge year-over-year, including
Foreclosure activity in
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