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October Foreclosure Activity Rises +3%

Posted By Barry Ritholtz On November 15, 2012 @ 11:45 am In Foreclosures,Real Estate | Comments Disabled

The other day, someone asked me when foreclosure activity would begin to reflect what I wrote earlier this year (Foreclosure machinery creaks back to life [1]).

After peaking in Q2 2009 & Q3 2010 respectively, Foreclosure Starts and Bank Repossessions have trended downwards ever since. The voluntary mortgage abatements of 2011 during the robosigning negotiations [2] kept the momentum going.

Now, we are starting to see early signs that the foreclosures are beginning to tick back up. September’s numbers  was plus 1%, and now October is up 3%.

I suspect we are going to see these numbers continue to creep up, even without any sort of economic slow down. If we do see a recession, than that slow crawl higher becomes faster.

 

 

http://www.realtytrac.com/images/reportimages/foreclosure_starts_completions_Jan06_Oct12.jpg

 

 

 

BTW, you can access everything I’ve written on Foreclosures here [3] and on Real Estate here [4].

 

Source:
Foreclosure Activity Increased 3 Percent in October [5]
RealtyTrac, November 15, 2012
http://www.realtytrac.com/content/foreclosure-market-report/october-2012-us-foreclosure-market-report-7474


Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2012/11/october-foreclosure-activity-rises-3/

URLs in this post:

[1] Foreclosure machinery creaks back to life: http://www.washingtonpost.com/2012/06/23/gJQASAQOyV_story.html

[2] robosigning negotiations: http://www.washingtonpost.com/foreclosure-settlement-a-failure-of-law-a-triumph-for-bank-attorneys/2012/02/23/gIQAe7feaR_story.html

[3] Foreclosures here: http://www.ritholtz.com/blog/category/foreclosures/

[4] Real Estate here: http://www.ritholtz.com/blog/category/real-estate/

[5] Foreclosure Activity Increased 3 Percent in October: http://www.realtytrac.com/content/foreclosure-market-report/october-2012-us-foreclosure-market-report-7474

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