After a somewhat unexpected spike in December, foreclosure activity dropped 10 percent in January — although the January total of 274,399 was the fourth highest monthly total since January 2005 and still up 18 percent from January 2008, according to the latest RealtyTrac U.S. Foreclosure Market Report.
The monthly drop was uncharacteristic for a January: in each of the previous three years foreclosure activity had increased on a monthly basis in January.
After increasing throughout most of 2008 to a peak in August, U.S. REOs have been steadily decreasing each month, with a drop of 15 percent from December to January.
Would it be correct to say that the foreclosure crisis is improving?
