A total of 101,938 properties across the United States were at some stage of the foreclosure process, which includes foreclosure notices, scheduled auctions and bank repossessions, the group said.
That drove overall foreclosure activity down 4.3 percent from January and down 9.4 percent from the same time last year.
"Given that August 2006 was the peak of the housing bubble, this eight-and-a-half year low in foreclosure activity is a significant milestone and a sign that nationwide foreclosure activity is on track to return to historic norms this year—and is possibly even headed below historic norms given the skinny-jeans-tight lending standards over the past five years, ''RealtyTrac vice president Daren Blomquist said in a statement.
Lenders started the foreclosure process on 48,079 properties in February, down 4.9 percent from last month. That was a 7.3 percent decline from February 2014.
A total of 45,880 properties were scheduled for foreclosure auctions last month, a 13.4 percent drop from January, and down 3.9 percent from a year ago.
Larry Porter, Associate Broker, CRS, GRI, e-Pro, Military Relocation Professional, USN Retired
Lori Porter, ABR, GRI, MRP, HRRA Circle of Excellence Gold Award, HRRA Longevity Award
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