OFFICE:     DIRECT:     Vance Richardson - Agent at THE PROPERTY SHOP


 Welcome to the TheRichardsonGroupRealEstate.com Blog

2013-07-15 10:37:56
Huge Drop In Foreclosures

Jul 9, 2013

 

It’s been a long haul since the housing bubble burst in 2006 but there’s growing evidence that the foreclosure crisis is quickly winding down even as a stubborn batch of bad loans originated during the height of the housing bubble continues to pollute the real estate ecosystem.

First, let’s look at evidence the foreclosure crisis is truly over.

U.S. foreclosure activity dropped to a 74-month low in April, with 144,790 properties with foreclosure filings. Although still about twice as high as the average 75,000 per month in 2005, it was 60 percent below the monthly peak of more than 367,000 in March 2010.

 

Given the much tighter lending standards of the past few years and recently rising home prices, the downward trend in new foreclosure activity at the national level should continue for the foreseeable future, until monthly foreclosure activity is back to that “normal” level of about 75,000 properties with foreclosure filings a month.

The inventory of homes stuck in the foreclosure process was still up 4 percent in May from a year ago, caused primarily by elongated foreclosure timelines in judicial foreclosure states, but those inventory numbers should also turn a corner and start heading down in the relatively near future at the national level — although there will certainly be some states with longer foreclosure timelines where this trend will lag.

 

 
Blog Archive
2014-10-15 13:10:47
Rising Rents make Home Ownership Cheaper in Dallas

2014-07-14 13:42:43
DFW HOME PRICES SOARING!!

2014-07-01 13:18:21
Dallas Area Home Prices

2014-06-05 13:28:49
Denton County Market Update

2014-05-01 14:14:13
HOME PRICES ON DOUBLE DIGIT RISE

2014-04-15 14:15:44
Shortage of Home Inventory

2013-07-25 12:11:48
Denton Area Market Shares

2013-07-15 10:47:04
Three Compelling Reasons Why Your Buyers Should Bu

2013-07-15 10:37:56
Huge Drop In Foreclosures

2013-07-11 14:27:07
WHY NOW IS A GREAT TIME TO BUY!

2013-06-20 14:00:33
Mortgage rates slip Jun 20, 2013

2013-06-20 13:57:48
Existing-home sales increases Jun 20, 2013

2013-06-14 14:01:36
Confidence In Housing Market Spikes

2013-06-03 13:43:31
DALLAS FT WORTH FORECLSOURES DOWN

2013-05-03 12:52:49
HIRE A HOME BUYERS AGENT

2013-05-03 12:47:28
The supply of homes for sale in North Texas is at

2013-05-03 12:40:54
REAL ESTATE NEWS FOR LEWISVILLE, TX

2013-05-03 12:37:58
DALLAS AREA HOME PRICES GROW AT RECORD PACE!

2012-08-03 10:09:17
Refinance and Mortgage Options

2012-06-29 13:52:38
DFW New Home Sales

2011-12-26 12:46:16
Texas Real Estate News

2011-12-09 09:50:07
Holidays, A Good Time To Sell


Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.