Foreclosure Activity Slows, but Supply Isn't Shrinking | ArmandoMontelongo.com

Armando Montelongo Team Blog

Foreclosure Activity Slows, but Supply Isn’t Shrinking

A company that tracks listings across the nation reported Thursday that foreclosure activity fell in July, down 35 percent from a year ago.

It was a 44-month low, according to a report by RealtyTrac.

But RealtyTrac attributes the drop in foreclosures not to sales, but to delays caused by “government and judicial interventions in the housing market.” It predicts the supply of foreclosures will grow, probably well beyond 2012.

For real estate investors the report means that, as noted in a recent post, there will be no shortage of foreclosed properties available in the foreseeable future.

Here is RealtyTrac’s clickable map. As the legend indicates, the darker the color, the higher the foreclosure rate. Users can click on a state within the map to get more information from the RealtyTrac site:

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