Foreclosures in Free-Fall

June 15, 2011 Foreclosure activity hit a 42-month low in May 2011, following eight consecutive year-over-year decreases. Meanwhile the inventory of unsold bank-owned homes crept higher for the second straight month. View Summary > Copy and paste this code to embed on your site Add Comment

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RealtyTrac Senior Vice President Rick Sharga explains why the decreasing foreclosure activity continues to mask the reality of housing market that is weighed down by distressed inventory. Much of that distressed inventory has not entered the foreclosure process, delayed by documentation and paperwork issues as well as foreclosure prevention efforts and political pressure, which is causing foreclosure activity to decrease.

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