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IRVINE, CA-National foreclosure filings increased 2% in July from the previous month, but are still down 32% from July 2012, according to RealtyTrac, a locally based online source of foreclosure and real estate data. The increase was driven by a 6% monthly increase in foreclosure starts and a 4% monthly increase in bank repossessions, although both metrics decreased from a year ago, the firm reports.

“While foreclosures are continuing to boil over in a select group of markets where state legislation and court rulings kept a lid on foreclosure activity during the worst of the housing crisis, the foreclosure boil-over markets are becoming fewer and farther between as lenders have caught up with the backlog of delayed foreclosures in some of the states with the more-lengthy judicial foreclosure process,” says Daren Blomquist, VP of RealtyTrac. “For example, Illinois foreclosure activity has now decreased on a year-over-year basis for eight consecutive months following 11 straight months of annual increases, and Ohio has seen three consecutive months with annual decreases following eight straight months with annual increases.”

For the complete report, click here.

As GlobeSt.com reported in July, distressed housing inventory in some markets continues to attract institutional investors and all-cash buyers, which still make up an appreciable percentage of the home-buying market, according to RealtyTrac. The firm reported that while distressed inventories are decreasing in many markets, this cohort is still responsible for a good chunk of home sales throughout the country.

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Instant Insights /

Foreclosures Rise Slightly, Still Down Y-O-Y

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