A new report from RealtyTrac shows that more homeowners are keeping their homes out of foreclosure than ever before.
The good news comes courtesy of RealtyTrac’s Midyear 2016 U.S. Foreclosure Market Report, which shows that there were a total of 253,408 properties that started the foreclosure process in the first half of 2016. That’s down 17% from one year ago and the lowest level for any half-year period since RealtyTrac began tracking foreclosure starts in 2006, the company said.
And it’s not just foreclosure starts that are on the decline.
According to RealtyTrac’s report, there were a total of 94,469 U.S. properties with a foreclosure filing (default notices, scheduled auctions or bank repossessions) in June, which is down 6% from May, down 19% from the same time period a year ago, and the lowest level since July 2006.