Foreclosures at a 4 Year Low - Real Estate and Technology News for Agents, Broker

Foreclosures at a 4 Year Low

Foreclosures in 2011 declined 34 percent which is the lowest levels since 2007, according to RealtyTrac.

"The number of units in foreclosure declined to 1,887,777, or one out of 69 homes, from 2,529,261, or one out of 44. Nevada, Arizona and California had the highest foreclosure rates." according to Business Insider. Colorado's rate of foreclosure was slightly lower than these states at 3,498 or one out of every 620 units.

RealtyTrac CEO Brandon Moore said that foreclosure activity will most likely go up as states with judicial processes begin to resolve issues with lenders.

"There were strong signs in the second half of 2011 that lenders are finally beginning to push through some of the delayed foreclosures in select local markets." said Moore. "We expect that trend to continue this year, boosting foreclosure activity for 2012 higher than it was in 2011, though still below the peak of 2010."

Business Insider reports that foreclosures fell in December to a 49 month low, down 20 percent, year over year.

Read the full Foreclosure Marketing Report at RealtyTrac

Read more at Business Insider .

photo credit: merfam