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RealtyTrac
September's foreclosure filings fell 6% from August, but don't take that as a sign that the market's picked up, reports RealtyTrac.
2011-10-13
In its latest report on the state of the U.S. housing market, the site finds 214,885 foreclosures were filed in September, down 30% from the same time last year.
The foreclosures themselves are taking longer to process--the average now is 336 days, up 18 days from the second quarter.
“While foreclosure activity in September and the third quarter continued to register well below levels from a year ago, there is evidence that this temporary downward trend is about to change direction, with foreclosure activity slowly beginning to ramp back up," James Saccacio, chief executive officer of RealtyTrac said in a statement.
