Market researcher RealtyTrac reports that fewer foreclosure processes were initiated in August 2012 than in August 2011. Foreclosures reached a 17-year high in August 2011. RealtyTrac said the number of homes entering foreclosure is projected to continue decreasing gradually.
Approximately 99,400 homes entered foreclosure in August. This was a 1 percent increase over July, but a 13 percent decrease from August 2011. It is also significantly lower than the April 2009 peak of approximately 203,000 homes that were in foreclosure. The number of completed foreclosures in August 2012 was 52,380 which is a 2 percent decrease from July 2012 and 19 percent from August 2011.