ABJ - October 13 - RealtyTrac, the leading online marketplace for foreclosure properties, today released its U.S. foreclosure market report for the third quarter of 2011, showing foreclosure filings—default notices, scheduled auctions and bank repossessions—were reported on 610,337 properties in the third quarter, an increase of less than one per cent from the previous quarter and a decrease of 34 per cent from the third quarter of 2010. The report shows one in every 213 U.S. housing units with a foreclosure filing during the quarter.

Foreclosure filings were reported on 214,855 U.S. properties in September, a six per cent decrease from August and a 38 per cent decrease from September 2010. September marked the 12th straight month where foreclosure activity decreased on a year-over-year basis.

“U.S. foreclosure activity has been mired down since October of last year, when the robo-signing controversy sparked a flurry of investigations into lender foreclosure procedures and paperwork,” said James Saccacio, CEO of RealtyTrac. “While foreclosure activity in September and the third quarter continued to register well below levels from a year ago, there is evidence that this temporary downward trend is about to change direction, with foreclosure activity slowly beginning to ramp back up.”