Foreclosures can have significant impacts on homeowners. Recently, the Ledger reported on some interesting foreclosure-related statistics. The statistics are from RealtyTrac and they regard foreclosure activity in Florida and the United States as a whole in November of 2011.
The statistics indicate that foreclosure activity went down in Florida in November of 2011. Reportedly, the total number of foreclosure filings made in Florida in November of 2011 was around 25 percent lower than the total from October 2011. Florida also reportedly saw about 25 percent fewer foreclosure filings in November of 2011 than it did in November of 2010.
The statistics indicate that the U.S. as a whole also saw a drop in foreclosure activity in November of 2011. Reportedly, the total number of foreclosure filings made in the U.S. in November of 2011 was 3 percent lower than the October 2011 total and 14 percent lower than the November 2010 total.
Thus, the statistics indicate that, in November of 2011, foreclosure activity was down in both Florida and the U.S. as a whole. However, this might not necessarily mean that the foreclosure picture is improving for U.S. consumers. According to an official with RealtyTrac, the U.S. has seen similar slowdowns in foreclosure activity this time of year over the past few years. Thus, the drop in foreclosures might just be a reflection of a seasonal trend rather than a sign that things are improving for consumers. In fact, the above-mentioned official from RealtyTrac said that certain aspects of the foreclosure statistics from November appear to indicate that new waves of foreclosures may be arriving in upcoming months.
Source: The Ledger, “Foreclosures in Polk See November Decline,” Kyle Kennedy, Dec. 15, 2011