A decline in foreclosure activity in a majority of the states in America was observed by RealtyTrac, a real estate research company, last month, a report by USA TODAY stated on Thursday, December 12.
RealtyTrac said foreclosure activity last November decreased by 37 percent compared to the same month last year. The decline in homeowners entering foreclosure proceedings last month was also the lowest since 2005.
Daren Blomquist of RealtyTrac said the decrease in the foreclosure activity recorded last November indicates that the foreclosure crisis is about to end. Trulia real estate economist Jed Kolko also said that states with long foreclosure procedures are the ones facing the greatest foreclosure issues.
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