In judicial states such as Illinois, Florida, New Jersey and New York, where courts have to sign off on foreclosures, “this was a continuation of a trend we’ve been seeing for several months now,†Daren Blomquist, vice president of RealtyTrac, said. “The increases in Florida and Illinois pushed foreclosure rates in… – Source
Sales of foreclosed homes and sales of other distressed properties continued to fall in Southern California last month — a big reason why the regions median home price rose in August. Foreclosed properties and short sales combined made up 36. 8% of last months resale market, the lowest level since January… – Source
But there is also plenty of uncertainty about the future of mortgage financing, depending on the outcome of the November election, not to mention action the current administration is taking to shrink Fannie Mae and Freddie Mac. (Read More: ‘Wind Down’ of Fannie, Freddie: ‘Positive for Housing’? We are already seeing… – Source