Foreclosure activity in June dropped to its lowest level nationwide since before the housing bubble started to burst nearly eight years ago, a report said.
The number of homes facing bank auctions, default notices and scheduled auctions totaled 107,194 last month, down 16 percent from June 2013, according to RealtyTrac, a housing industry research firm based in Irvine, Calif. June’s total was the lowest since July 2006, the company said.
“Nationwide foreclosure activity in June reached an important milestone,” Daren Blomquist, a RealtyTrac vice president, said in a statement. “Over the next six to nine months, foreclosure numbers should start to flatline at consistently historically normal levels.”
The foreclosure numbers in Kansas and Missouri were mixed last month. Kansas reported 410 distressed properties in June, up nearly 33 percent from a year earlier. In Missouri, 946 properties faced foreclosure action, down nearly 43 percent from June 2013, RealyTrac said.
Through the first half of 2014, there were 613,874 properties nationwide with foreclosure filings, down 23 percent from the first six months of 2013.
Florida, Maryland, Illinois, New Jersey and Nevada had the highest foreclosure rates through the first half of 2014.
Despite some troubled regions of the country, Blomquist said, “foreclosures are no longer a widespread contagion threatening to derail the housing market’s return to full health.”