Lenders picked up the pace of home foreclosure activity nationwide in October, as more properties made it through the legal pipeline.
By STEVE ROSEN
The Kansas City Star
Default notices, scheduled auctions and bank repossessions climbed 2 percent to 133,919 properties last month compared with September, according to data released by RealtyTrac, a real estate market research firm based in Irvine, Calif.
However, the level of activity was down 28 percent from October 2012, as homeowners and the housing market continue to stabilize following the recession and slow economic recovery.
In Missouri, the total number of properties facing foreclosure actions climbed nearly 27 percent in October from September. RealtyTrac reported 1,500 properties in the state in financial distress.
Still, foreclosure activities in Missouri were down 28 percent from October 2012, the report said.
Kansas residential properties facing foreclosure last month fell to 324, a 38 percent decline from September’s total. Year over year, foreclosure actions were down about 61 percent in the state, RealtyTrac said.
Nationwide, states with the highest foreclosure rates in October were Florida, Nevada, Maryland, Ohio and Illinois. Among the nation’s 20 largest metropolitan areas, the highest foreclosure rates were in Miami, Tampa, Chicago, Baltimore and the Riverside-San Bernardino, Calif., area.
“The backlog of delayed judicial foreclosures continues to make its way through the pipeline, with many of these properties now being scheduled for the public auction after starting the foreclosure process last year or earlier this year,” said Daren Blomquist, vice president at RealtyTrac.
To reach Steve Rosen, call 816-234-4879 or send email to email@example.com.