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December 12, 2013

Home foreclosures continue to dwindle in region

Nationally, homes facing foreclosure actions fell 37 percent from a year ago, to 113,454 properties, RealtyTrac said. States with the highest foreclosure rates were Florda, Delaware, Maryland, South Carolina, and Illinois.

The number of homes facing foreclosure actions dipped again in Kansas and Missouri last month, providing further evidence that the housing recovery will spill deep into 2014.

Data released Thursday by RealtyTrac, a real estate market research firm, showed that homes facing default notices, auctions and bank repossessions fell nearly 68 percent in Kansas last month compared with November 2012. There were 319 properties with foreclosure filings last month, or one in every 3,853 homes in Kansas, RealtyTrac said.

In Missouri, home foreclosures fell 39 percent in November compared with the year-earlier level. That amounted to 1,294 properties, or one in every 2,089 homes in the state.

Nationally, homes facing foreclosure actions fell 37 percent from a year ago, to 113,454 properties, RealtyTrac said. States with the highest foreclosure rates were Florida, Delaware, Maryland, South Carolina and Illinois.

“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,” Daren Blomquist, RealtyTrac’s vice president, said in a statement.

Blomquist also said that although financial institutions and the courts continue to work on troubled properties, 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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