There’s light at the end of the tunnel. The National Association of Realtors says the foreclosure crisis that has dogged the housing industry since the financial collapse in 2008 began dissipating in 2013.
Foreclosure filings—including default notices, scheduled auctions, and bank repossessions—fell 26% in 2013 compared to 2012, and were down 53% from the peak in 2010, according to RealtyTrac’s Year-End 2013 Foreclosure Market report.
The 1.4 million properties with foreclosure filings in 2013 marked the lowest amount since 2007.
States with the highest level of foreclosures last year were: Florida with a foreclosure rate of 3.01%; Nevada with 2.16%; Illinois with 1.89%; Maryland with 1.57%; and, Ohio with 1.53%.
See NAR’s Daily Real Estate News for more.