facebook
twitter
rss
account
search
search
 

Home foreclosures down in December

Feb. 1, 2013 at 5:19 PM   |   Comments

IRVINE, Calif., Feb. 1 (UPI) -- Home foreclosures across the United States declined in December, extending a critical component of the housing recovery, a mortgage tracking firm said.

The 19.5 percent decline in foreclosures, since December 2011, will lead to a faster recovery in 2013, and fewer repossessed homes on the market could lead to higher real estate prices, the Los Angeles Times said Friday.

"The most encouraging foreclosure trend reported here is that the inventory of foreclosed properties is almost 20 percent smaller than a year ago. We are working toward resolving the backlog," said Mark Fleming, chief economist for CoreLogic of Irvine, Calif., the mortgage tracking firm that released the data.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Scotland was tricked, 'yes' backers say Scotland was tricked, 'yes' backers say
2
Iraq relying on oil wealth from Basra Iraq relying on oil wealth from Basra
3
Iran could retool pipeline for Pakistan Iran could retool pipeline for Pakistan
4
GM recalls 221,000 Cadillacs and Impalas GM recalls 221,000 Cadillacs and Impalas
5
Greenpeace puts more pressure on LEGO Greenpeace puts more pressure on LEGO
Trending News
Video
x
Feedback