Here’s another sign that the tide has turned on the national real estate market: US homes entering the foreclosure process fell to their lowest levels in 7 years during the 3rd quarter of 2013.
This is tremendous news for interested home sellers because foreclosures have been pulling down median sales prices all across the country for the last few years.
What’s more, the drop in foreclosures signals that fewer homeowners are falling behind on mortgage payments, which is yet another indication that the market is in fact improving.
And that’s good news for everyone!
More National Housing Market Trends
According to a recent Associated Press article, lenders started the foreclosure process on 174,366 homes between July and September,