A total of 613,874 properties in the U.S. Have defalt notices in the first half of 2014, a 19 percent decrease from the previous six months and down 23 percent from the first half of last year. Of all housing units in the United States, one in 214 had at least one foreclosure filing in the first six months of the year.
Total foreclosure activity was the lowest in Texas, Georgia, Colorado, Tennessee, Arizona and Nevada.
“Nationwide foreclosure activity in June reached an important milestone, dropping to levels not seen since before the housing price bubble burst in August 2006,” said Daren Blomquist, vice president at RealtyTrac. “Over the next six to nine months nationwide foreclosure numbers should start to flat line at consistent historically normal levels.
“There continue to be concerning trends in some states and local markets that clearly indicate those markets are not completely out of the woods when it comes to the lingering foreclosure problem left over from the housing bust,” Blomquist said. “While it’s important that any remaining foreclosure infection is addressed promptly to keep it from festering, foreclosures are no longer a widespread contagion threatening to derail the housing market’s return to full health.”
Nine states saw overall foreclosure activity increase the first half of this year, compared with last year, including New Jersey, Maryland, Iowa, Massachusetts and Connecticut.