Foreclosure activity plummets nationwide due to moratorium

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Foreclosure filings fell 21-percent from the previous month, and 14-percent from November 2009, according to a RealtyTrac report.

There were 262,339 foreclosure filings in the United States for November. Colorado was the 10th highest state for foreclosures with 4,970.

RealtyTrac CEO James Saccacio attributed the drop to seasonal cycles, which typically result in a 7 to 10 percent drop in November, and the robo-signing controversy that delayed some foreclosures as banks revised procedures.

The month-over-month decrease is the hightest on record.

Further analysis can be found here.