Drives Up Foreclosure Activity in May: After posting a 75-month low in April, foreclosure filings increased 2 percent in May, according to RealtyTrac. The rise was primarily driven by an 11 percent increase in REOs over the month.
However, REOs demonstrated a 29 percent decline year-over-year in May, while foreclosure filings fell 28 percent over the same time period.
“Foreclosure activity continued to bounce back in some markets where it may have appeared the foreclosure problem had been knocked out by an aggressive combination of foreclosure prevention efforts over the past two years,”
Inventory Situation Improves in June Compared to Start of 2013:
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