RealtyTrac’s Foreclosure Market Report for November shows foreclosure filings, scheduled auctions and bank repossessions decreased 15% from the previous month and 37% year-to-year.
The 15% monthly decrease in November was the biggest month over month decrease since November 2010 when U.S. foreclosure activity plummeted 21% in one month following the revelation of the robo-signing scandal.
In Florida, the percentage drop in owners receiving a first-time foreclosure notice was also dramatic. The state had almost 6,775 foreclosure starts in November, an 18.02% decline month to month and a 45.9% drop year-to-year. The completed state foreclosures were down nearly 16% year-to-year.