July’s RealtyTrac data reveals that foreclosures are up 3.6% from June, making headlines, however foreclosures are down nearly 10% from July of 2009.
The bad news however is homeowners actually in the reposession stage of foreclosure (not just filings or defaults) hit 92,858 homes in July, the second highest monthly number since RealtyTrac began recording.
RealtyTrac’s CEO, James Saccacio notes that for the last year and a half, foreclosure filings have exceeded 300,000 each month.
Although foreclosures are still having a major impact on the residential housing sector, 2010 is looking a little bit better than 2009.
How are foreclosures impacting your local market?
