Is America climbing out of the foreclosure hole dug during the Great Recession?
That's the question tackled in reports from Realty Trac, which keeps a close watch on real estate data. Its Midyear 2014 U.S. Foreclosure Market Report is out today.
The report shows that U.S. foreclosure activity in June decreased 16% from a year ago to lowest level since July 2006, the month before the housing-price bubble burst. In Michigan, the foreclosure activity was also back to a lower level than the number before the housing bust.
Daren Blomquist, a Vice President with Realty Trac, discussed three reasons behind this slowdown in foreclosures.