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Emerging Foreclosure Trends for 2012
RayHRealtor.com - PalmerHouse Properties
There was an abundance of good news on the foreclosure front in 2011 that might portend a rosy outlook for 2012 — at least at first blush.U.S. foreclosure activity was down on an annual basis in every month during the year through November, according to RealtyTrac’s monthly foreclosure market reports. These annual decreases put the nation on pace to have fewer than 2 million properties with foreclosure filings for the year, down more than 30 percent from the nearly 2.9 million properties with foreclosure filings in 2010.
Foreclosure activity in 2011 is on track to be down more than 50 percent in several states. In addition, the much-feared shadow inventory of foreclosures has declined dramatically over the course of the year. Inventory of properties in some stage of foreclosure or bank-owned (REO) has shrunk from a record high of more than 2.2 million in December 2010 to just under 1.5 million in September, according to RealtyTrac data. That’s a 32 percent drop in just nine months, and puts the estimated months’ supply of foreclosure inventory at just over one year.
Despite this seeming good news, the housing market has not completely escaped the clutches of this foreclosure ... more

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