{"id":308643,"date":"2010-02-11T12:40:47","date_gmt":"2010-02-11T17:40:47","guid":{"rendered":"tag:business.theatlantic.com,2010:\/\/3.35777"},"modified":"2010-02-11T12:21:43","modified_gmt":"2010-02-11T17:21:43","slug":"foreclosures-down-10-in-january","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/308643","title":{"rendered":"Foreclosures Down 10% In January"},"content":{"rendered":"

Foreclosure tracking website RealtyTrac released<\/a> its January statistics today. It reports foreclosures declined by 10% in January compared to December. That sounds like great news, if it indicates the start of a new trend. It probably doesn’t. <\/p>\n

RealtyTrac saw 315,716 foreclosure filings on U.S. properties in January. As mentioned, this is 10% fewer than in December, but still 15% more than in January 2009. Not great year-over-year, but the month-over-month decline is reason for optimism, right? Not so fast says RealtyTrac’s CEO: <\/p>\n

“January foreclosure numbers are exhibiting a pattern very similar to a year ago: a double-digit percentage jump in December foreclosure activity followed by a 10 percent drop in January,” said James J. Saccacio, chief executive officer of RealtyTrac “If history repeats itself we will see a surge in the numbers over the next few months as lenders foreclose on delinquent loans where neither the existing loan modification programs or the new short sale and deed-in-lieu of foreclosure alternatives works.”<\/p><\/blockquote>\n

So this probably isn’t the beginning of a trend, but more a seasonal variance. I suppose there’s a hope that history won’t repeat itself, but since I haven’t seen any other indicators that the housing market has made a sudden turn for the better, I suspect Saccacio is right. <\/p>\n

Here are a few other noteworthy stats from the report: <\/p>\n

– Nevada remains the foreclosure capital with the highest ratio of foreclosures per housing unit for the 37th straight month.
\n– Arizona was 2nd highest, with its foreclosures increasing by 4% month-over-month.
\n– Foreclosures declined by double digits percentages in California and Florida month-over-month, but the states still remain in the top-three for total foreclosures in January.
\n– California, Florida and Arizona accounted 44% of all foreclosures nationwide.
\n– Those three plus Illinois, Michigan and Texas account for 60% of all foreclosures.
\n– Phoenix was the only top-10 metro area to experience an increase in foreclosures month-over-month.
\n– Las Vegas was still the worst metro area for foreclosures, with one in every 82 housing units filing.<\/p>\n



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Foreclosure tracking website RealtyTrac released its January statistics today. It reports foreclosures declined by 10% in January compared to December. That sounds like great news, if it indicates the start of a new trend. It probably doesn’t. RealtyTrac saw 315,716 foreclosure filings on U.S. properties in January. As mentioned, this is 10% fewer than in […]<\/p>\n","protected":false},"author":1535,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-308643","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/308643","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1535"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=308643"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/308643\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=308643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=308643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=308643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}