Home foreclosures fall to pre-bubble level

The Kansas City StarJuly 17, 2014 

Foreclosure activity in June dropped to its lowest level nationwide since before the housing bubble started to burst nearly eight years ago, a new report said Thursday.

The number of homes facing bank auctions, default notices and scheduled auctions totaled 107,194 last month, down 16 percent from June 2013, according to RealtyTrac, a housing industry research firm based in Irvine, Calif. June's total was the lowest since July 2006, the company said.

"Nationwide foreclosure activity in June reached an important milestone," Daren Blomquist, a RealtyTrac vice president, said in a prepared statement. "Over the next six to nine months, foreclosure numbers should start to flatline at consistently historically normal levels."

Through the first half of 2014, there were 613,874 properties nationwide with foreclosure filings, down 23 percent from the first six months of 2013.

Florida, Maryland, Illinois, New Jersey and Nevada had the highest foreclosure rates through the first half of 2014.

Despite some troubled regions of the country, Blomquist said, "foreclosures are no longer a widespread contagion threatening to derail the housing market's return to full health."

McClatchy Washington Bureau is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service