Foreclosures drop around region

Lenders initiated 7 to 35 percent fewer foreclosures and related steps last month across southwest Ohio, according to a report released today .

RealtyTrac, a California firm that tracks foreclosures nationwide, released figures that show the total number of foreclosures, default notices, scheduled auctions and bank repossessions fell across the area last month when compared with September 2012.

The same was true across the state and nation. What’s more, the September numbers helped drop third-quarter foreclosure activity to its lowest quarterly level since the second quarter of 2007, the firm said.

Foreclosure activity last month fell 7 percent in the Dayton metro area, nearly 36 percent in the Cincinnati metro area and 17 percent in the Springfield area when compared with September 2012, according to RealtyTrac.

The Dayton and Springfield areas saw even sharper declines in September when compared with August of this year. Foreclosure-related filings fell 35 percent in the Dayton area and nearly 50 percent in the Springfield area. In the Cincinnati area, foreclosure related filings fell more than 27 percent from August.

“The September and third quarter foreclosure numbers show a housing market that is haltingly returning to health,” said Daren Blomquist, vice president at RealtyTrac, in a statement. “While foreclosures are clearly becoming fewer and farther between in most markets, the increasing time it takes to foreclose is holding back a more robust and sustainable recovery.”

Statewide, foreclosure-related filings last month fell 22 percent from September 2012. Nationwide, filings fell 27 percent, RealtyTrac said.

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