Realty Trac's Foreclosure Market Report shows foreclosure filings - all default notices, scheduled auctions and bank repossessions - decreased 37% from a year ago. In Florida, the percentage drop in owners receiving a first-time foreclosure notice was also dramatic. The state had a 18% decline in month-to-month and a 45% drop year-to year.
"While some of the decrease can be attributed to seasonality, the depth and breadth of the decrease provides strong evidence that we are entering the ninth inning of this foreclosure crises with the outcome all buy guaranteed," say Daren Blomquist, vice president of Realty Trac.
Tom: This is great news for the country in general, and Florida in particular. As the rest of the country improves in economic and real estate measures, it has a direct and profound on our state.