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Foreclosure Filings Drop. Prevention Policies Distorting Supply and Demand

By Implode-Explode Heavy Industries

" The RealtyTrac report shows that foreclosure filings, which include default notices, scheduled auctions, and bank repossessions declined 2 percent from January. A total of 308,524 properties in the United States received one of the listed notices during the month. This equates to 1 house in every 418 units. Compare that to January's ratio of 1 in every 409. That works out to a 10% month over month improvement. However, when comparing data from one year ago (Feb 2009), the ratio is still 6% worse."

Full post as published by Mortgage Lender Implode-o-Meter on March 12, 2010 (boomark / email).