The number of U.S. properties with foreclosure filings fell 27% in February from a year earlier to a more than seven-year low, according to market researcher RealtyTrac.
There were 112,498 U.S. properties with default notices, scheduled auctions and bank repossessions in February, a 10% decrease from the prior month, RealtyTrac reported Thursday.
“Cold weather and a short month certainly contributed to a seasonal drop in foreclosure activity in February, but the reality is that new activity is no longer the biggest threat to the housing market when it comes to foreclosures,” said Daren Blomquist, RealtyTrac vice president.
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