Foreclosure filings fell in 2012, yet more foreclosed homes are likely to come up for sale in 2013. This increase could be good news for prospective home owners and investors, according to Daren Blomquist, vice president at Irvine, California-based RealtyTrac, an online marketplace for foreclosure properties.
RealyTrac reported that there were a total of 2,304,941 foreclosure filings default notices, scheduled auctions and bank repossessions on 1,836,634 U.S. properties in 2012, down 3% from 2011 and down 36% from the peak of 2.9 million properties with foreclosure filings in 2010. Blomquist stated that the U.S. is comfortably past the peak of the foreclosure problem nationally, with fourth quarter foreclosure activity at the lowest quarterly level since the third quarter of 2007.
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