According to real estate data supplier RealtyTrac’s midyear foreclosure report, the total number of U.S. properties with foreclosure filings – default notices, scheduled auctions and bank repossessions – in the first half of 2014 was down 23 percent from the first half of 2013.
In addition, 10 states in June hit their lowest levels of foreclosures in eight years.
“Nationwide foreclosure activity in June reached an important milestone,” said RealtyTrac vice president Daren Blomquist, “dropping to levels not seen since before the housing price bubble burst in August 2006.”
He said the numbers should return to historically normal levels in the next six to nine months.
Not all markets are out of the woods, as nine states did see increases in foreclosure activity. But, Blomquist said, “foreclosures are no longer a widespread contagion threatening to derail the housing market’s return to full health.”