WASHINGTON (dpa-AFX) - RealtyTrac, an online marketplace for foreclosure properties, released its year-end 2011 U.S. Foreclosure Market Report, which shows a total of 2,698,967 foreclosure filings were reported on 1,887,777 U.S. properties in 2011, a decrease of 34 percent in total properties from the prior year.
In addition, the report shows that 1.45 percent of U.S. housing units had at least one foreclosure filing during the year, down from 2.23 percent in 2010, 2.21 percent in 2009, and 1.84 percent in 2008. Total U.S. foreclosure activity and the U.S. foreclosure rate in 2011 were both at their lowest annual level since 2007.
In 2011, above 6 percent of Nevada housing units had at least one foreclosure filing, giving it the nation's highest state foreclosure rate for the fifth consecutive year despite a 31 percent decrease in foreclosure activity from 2010.
In December, foreclosure filings were reported on 205,024 U.S. properties, a decrease of 9 percent from the prior month and down 20 percent from December 2010. December Default notices declined 19 percent from the previous month and were down 23 percent from December 2010. Scheduled foreclosure auctions decreased 12 percent from the prior month and were down 24 percent from December 2010. Meanwhile, bank repossessions increased 10 percent sequentially but were still down 12 percent from last year.
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