RealEstateRama

One New Foreclosure Filing for Every 879 U.S. Households, Activity Remains High

Foreclosure listing activity across the nation remained at a high level in the month of July 2007. The total number of properties either entering or moving through some stage of the foreclosure process was 131,574 or one foreclosure for every 879 households in the U.S.According to data compiled by Bargain Network (bargain.com), an online provider of real estate foreclosures, the number of residential homes either entering or moving from one stage of foreclosure showed little movement. Total foreclosure filings dipped only slightly from 86.5 to 85.3% in July. However, foreclosure listing activity in the Condo/Town home and Multi-Family sectors continued to rise. The Condo/Town home sector for July was 7.4%, up from 7.2% in June and Multi-Family filings were up 2.0 from 1.7%. (more…)

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