RealtyTrac’s Year-End 2011 U.S. Foreclosure Market Report shows a total of 2,698,967 foreclosure filings in 2011, down 34 percent from 2010 and 33 percent below 2009’s totals. Foreclosure filings, which include default notices, scheduled auctions, and bank repossessions, were reported on 1,887,777 properties in 2011. Brandon Moore, chief executive officer of RealtyTrac, said 2011 saw a dramatic drop in foreclosure activity, due to a lack of clarity regarding documentation and legal issues. For the month of December, foreclosures dropped 9 percent from the month before and 20 percent from the previous year. December’s totals were the lowest since November 2007. Default notices were down 19 percent during the month. More here.
