RealtyTrac's U.S. Foreclosure Market Report™ for November 2015, which shows foreclosure filings—default notices, scheduled auctions and bank repossessions—were reported on 104,111 U.S. properties in November, a decrease of nearly 10% from the previous month and down more than 7% from a year ago.
RealtyTrac analyst Ginny Walker notes that a 15% drop in monthly foreclosure starts to a total of 41,208 for November, was the lowest since 2005. Plus, November caps a run of five consecutive months where national foreclosure starts decreased on a year-over year basis. Walker writes:
“Banks are continuing to work through the backlog of lingering foreclosures, pushing bank repossession numbers higher in the short term even as foreclosure starts drop to new lows,” said RealtyTrac vp Daren Blomquist.