The foreclosure crisis continues, according to RealtyTrac:
RealtyTrac® (http://www.realtytrac.com/), the leading online marketplace for foreclosure properties, today released its U.S. Foreclosure Market Report™ for July 2010, which shows that foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 325,229 properties in July, a nearly 4 per cent increase from the previous month but a nearly 10 per cent decrease from July 2009. One in every 397 U.S. housing units received a foreclosure filing during the month.
“July marked the 17th consecutive month with a foreclosure activity total exceeding 300,000,” said James J. Saccacio, chief executive officer of RealtyTrac. “Declines in new default notices, which were down on a year-over-year basis for the sixth straight month in July, have been offset by near-record levels of bank repossessions, which increased on a year-over-year basis for the eighth straight month.”
As ZeroHedge points out, this reverses a four-month trend of improving sequential data.
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