Foreclosures at Lowest Level Since December 2005

Foreclosure filings dropped by 13% in September from a August and 24% from a year ago, according to a report by RealtyTrac. The report shows that there were 82,792 properties with foreclosure filings, the lowest level since December 2005.

“Foreclosure activity has been on a steady slide downward over the past six years, finally dropping back below pre-crisis levels in September,” said Daren Blomquist, senior vice president at ATTOM Data Solutions, the parent company of RealtyTrac.

The report also showed that Delaware, New Jersey and Nevada posted the highest foreclosure rates in September. Of the properties that were actually foreclosed upon, 44% were purchased by investors, while 56% reverted back to the lenders.