Foreclosure-related filings dip 3.4% in June

Report: Despite improvement, activity up 53% from a year ago
By Inman News, Thursday, July 10, 2008.
Inman News

The number of homes subjected to foreclosure-related filings fell 3.4 percent nationwide from May to June, data aggregator RealtyTrac reported today, thanks in part to improvements in the two states with the highest rate of foreclosure filings -- Nevada and California.

The 253,363 properties subjected to filings in June represented a 53.3 percent increase from a year ago, RealtyTrac said, with bank repossessions increasing at a much faster clip than default notices or auction notices. Bank repossessions were up 171 percent from a year ago, to 71,563, compared with a 38 percent gain in default notices and a 22 percent increase in auction notices from a year ago.

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