Friday, April 14, 2017

Foreclosures drop below ‘normal’ pre-recession levels

Foreclosures drop below ‘normal’ pre-recession levels

 
IRVINE, Calif. – April 13, 2017 – ATTOM Data Solutions' March 2017 U.S. Foreclosure Market Report finds that U.S. foreclosure activity was below pre-recession levels in 102 out of the 216 metropolitan statistical areas (47 percent) analyzed in the report.
Nationwide, foreclosure filings – default notices, scheduled auctions and bank repossessions – were down 11 percent quarter-to-quarter and 19 percent year-to-year. It's the lowest level since Q3 2006.
First-quarter foreclosure activity was also 16 percent below the pre-recession average between Q1 2006 and Q3 2007.
"U.S. foreclosure activity on a quarterly basis first dipped below pre-recession averages in the fourth quarter of last year, and this report shows that trend continuing for the second consecutive quarter," says Daren Blomquist, senior vice president with ATTOM Data Solutions. "The number of local markets dropping below pre-recession levels continues to grow, up from 78 a year ago to 102 in this report."
The 102 local markets with first quarter foreclosure activity below pre-recession averages included Los Angeles (46 percent below); Dallas (73 percent below); Houston (52 percent below); Miami (44 percent below); and Atlanta (67 percent below).
No Florida markets were in ATTOM's list of top markets still above pre-recession levels.
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