Foreclosures on the rise

Dean Foust

A story on Inman News reports that, according to RealtyTrac, foreclosures grew for the second straight month in July, and have now jumped more than 12% in the last two months. That now works out to one foreclosure for every 1,465 households. An interesting comment from the CEO of RealtyTrac: "If the trend from the last two months continues, foreclosures may gather enough momentum to significantly impact the real estate market," said James J. Saccacio, RealtyTrac chief executive officer. "The numbers for the next few months will let us know if that's the case."

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