Foreclosure filings are down but bank seizures are up
1 in 400 homes received a foreclosure notice in May. Is this good or bad news?
Neither, really, but it is better news, as this number represents a 35 drop in foreclosure filings from the previous month.
May was also a record month for bank seizures, taking back just under 94,000 homes. This is a 44% increase in bank seizures from May of 2009.
Does the fact that foreclosure filings are starting to slow and bank seizures are increasing signal a bottom to the housing market?
Comments (2)
Cash is king right now. You have cash you can buy low on whatever you want in this market.
Tom Bukacek, over 14 years ago
Easier to buy and harder to sell...net net it doesn't matter one freaking bit for the little guy!
Bryan Hancock, over 14 years ago