Foreclosure filings, which include default notices, scheduled auctions and bank repossessions increased two percent from June to July, but dropped 16 percent from a year ago, reports worldpropertychannel.com. “July was the 46th consecutive month where U.S. foreclosure activity was down on a year-over-year basis,” said Daren Blomquist, vice president at RealtyTrac. “After nearly four years of falling foreclosures, we are starting to see evidence that foreclosure numbers are normalizing at the national level. The 16 percent decrease in July was exactly half the annual decrease we saw a year ago in July 2013, when U.S. foreclosure activity was down 32 percent on a year-over-year basis.”

A total of 49,624 U.S. properties began the foreclosure process for the first time in July, a five percent increase from the previous month, but still down 18 percent from a year ago, as MHProNews has been informed. Meanwhile, 51,595 properties nationwide were set for foreclosure auction in July, an increase of ten percent over June but a drop of three percent from a year ago. Additionally, 25,937 U. S. properties were repossessed by lenders via foreclosure in July, a drop of four percent from the prior month and down 30 percent from a year ago to the lowest level since April 2007. ##

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