The month of October brought more foreclosure filings across the United States, although activity levels are still down 19% from last year, RealtyTrac said Thursday.
The Irvine, Calif.-based foreclosure research firm reported 186,455 default notices, scheduled auctions and bank repossessions. That is up 3% from September and indicates that one out of every 706 U.S. homes faced a foreclosure filing last month.
“We continued to see vastly different foreclosure trends across the country in October, depending primarily on how each state’s foreclosing infrastructure was able to handle the high volume of delinquent loans during the worst of the foreclosure crisis in 2010,” said Daren Blomquist, vice president of RealtyTrac.
He added, “Unfortunately the three states dealing with the biggest rebound in deferred foreclosure activity — New Jersey, New York and Connecticut — also had to deal with the devastation to homes inflicted by super storm Sandy.”
Foreclosure moratoriums in areas hit by Sandy will further delay foreclosure activity in Northeast states, RealtyTrac said.
The states with the steepest foreclosure increase over last year included New Jersey, where filings rose 140%, New York (123% increase), and Connecticut (41% jump).
Still in October, foreclosure activity in New Jersey, New York and Connecticut counties impacted by the hurricane fell 8% from September, while remaining 92% above year ago levels.
kpanchuk@housingwire.com
