Housing industry analyst RealtyTrac released its 2012 Year-End Foreclosure Market Report today. In it is a bit of good news: There was a three percent drop in foreclosure filings in 2012 compared to 2011.
The report also noted the shift in the parts of the country seeing the most foreclosure activity. There was an increase in foreclosure activity in states like New Jersey, Florida, and Connecticut and a drop for states like Nevada, Utah, and Oregon. Overall, Florida had the highest foreclosure rate in the country in 2012, with more than three percent of Florida housing units receiving a foreclosure filing.
So what can we expect for 2013? Daren Blomquist, president of RealtyTrac, explains what this year's report indicates for the future.