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RealtyTrac says sales of foreclosed homes accounted for less real estate sales in the third quarter of 2011 from both the prior quarter and the year before.
Technically speaking, foreclosures were down in 2011, but that doesn't mean the housing market got healthy.
Banks appear to have begun picking up the pace of foreclosures on residential real estate in August, reducing the time before the housing industry works through the overhang of troubled properties, according to RealtyTrac.
RealtyTrac seeing movement toward resolving overhang of troubled properties.
Document-driven backlog forces causes drop in foreclosure rate, firm says.