.002% of homes went into foreclosure last month?
If you heard that .002% of households went into foreclosure last month what would your reaction be?
I suspect it would not be one of shock and horror. It might even make you think that the real estate “crisis” is not such a crisis after all?
Well guess what. It’s true.
The media is trumpeting the most recent foreclosure news released by RealtyTrac. Foreclosures are up a whopping 68% from this time last year! And 1 in 617 homes went into foreclosure last month!
Loosely translated: .002% of homes nationwide, went into foreclosure last month.
In Colorado, .003% of homes went into foreclosure last month.
Nationwide, foreclosures dropped 10% since last month which, according to Realty Trac, is the first double digit monthly decrease since April 2006.
I have other issues with RealtyTrac and the way they count homes in foreclosure but that’s for another blog post.
Beth Skinner is a real estate professional who actually returns phone calls and emails! Click here to search the MLS for your dream home.
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