According to RealtyTrac's 2015 Year-End U.S. Foreclosure Market Report, released Thursday, overall foreclosure activity dropped to a nine-year low in 2015 – the lowest since before the recession in 2006. The trend is the result of a 10-year low in foreclosure starts, RealtyTrac said.
“This is largely the result of much tighter loan origination standards found in previous years, primarily 2010 and forward,” Daren Blomquist, vice president for RealtyTrac, said. “That is, we are reaping the rewards of that in much lower foreclosure rates. At the same time, we are finally getting through the backlog of distressed properties that were left behind from the last housing crisis.”
Blomquist said the crisis is mostly behind us, with the exception of in some markets.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
