Foreclosures continued to fall to pre-recession levels in Juneas the economy continued to strengthen, but signs have emerged thatthe market might be in danger of overheating, according to aRealtyTrac report released Thursday.
There were a total of 94,469 U.S. properties with a foreclosurefiling in June, down 6% from the previous month and down 19% from ayear ago to the lowest level since July 2006 — a nearly 10-yearlow.
Daren Blomquist, SVP at RealtyTrac, said analysts need to shift from worrying aboutwhether the market has recovered from the recession to worryingabout the speculation and house flipping that contributed to thebubble from 2005 to 2007.
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