Foreclosure activity best viewed over 12-month period
New data from RealtyTrac shows home bank possessions rising 4% month-over-month in July, but that's a very limited view of the market, TheStreet claims in a new article.
Instead, the Street analysts believe foreclosures should be studied on a year-over-year basis. When doing so, it looks like foreclosure activity remains on a downward spiral. TheStreet adds more color to this trend:
Those figures, RealtyTrac reports, are actually down 32% from July 2012.
That's a huge sign that home foreclosures are fading (even though they also are up by 6% in July -- but, again, way down from a year earlier).