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| FORECLOSURE ACTIVITY DECREASES 15 PERCENT LAST MONTH | U.S. foreclosure activity decreased in November by 15 percent, the biggest month-over-month decrease since November 2010. A total of 52,826 U.S. properties started the foreclosure process for the first time, down 10 percent from the previous month and down 32 percent from a year ago.
Bucking the trend, foreclosure starts increased in 15 states, including Pennsylvania (up 233 percent), Delaware (up 104 percent), Maryland (up 74 percent), Oregon (up 38 percent), and Connecticut (up 37 percent).
Search foreclosures in these trend-bucking states on RealtyTrac.com.
"While some of the decrease in November can be attributed to seasonality, the depth and breadth of the decrease provides strong evidence that we are entering the ninth inning of this foreclosure crisis with the outcome all but guaranteed," said Daren Blomquist, vice president at RealtyTrac.
"While foreclosures will likely continue to stage a weak rally in certain markets next year as the last of the distress left over from the Great Recession is dealt with, it is highly unlikely that there will be a foreclosure comeback that poses any major threat to the solid housing recovery that has now taken hold."
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