David Saks: January 2013

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Some Good News For a Change


December Foreclosures Fall to Six-Year Low

U.S. foreclosure activity fell to its lowest level in nearly six years in December, reports RealtyTrac.

Over the fourth quarter, foreclosure filings were reported on 503,462 properties, down 5 percent from the prior three-month period and down 14 percent from the previous year.

 There were about 2.3 million foreclosure filings on 1.8 million properties in 2012, marking a 3 percent decline from 2011 and a 36 percent slide from a peak 2.9 million properties in 2010.

 Florida, Nevada, and Arizona have the top foreclosure rates by state.

For many economists, the contraction in new foreclosures is the latest sign of a turning point for the housing sector.

However, RealtyTrac warns that there could be new spikes in foreclosure activity this year.

 “Although we are comfortably past the peak of the foreclosure problem nationally, 2013 is likely to be book-ended by two discrete jumps in foreclosure activity,” said RealtyTrac’s Daren Blomquist, citing a build-up in foreclosure backlogs.

To read more: http://www.cnbc.com/id/100386320

[source: CNBC]




David Saks



Time&Temp Memphis

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Comment balloon 4 commentsDavid Saks • January 28 2013 12:55PM
Some Good News For a Change
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