Michigan’s home foreclosure rate is tumbling. The rate of home foreclosure filings in Michigan is half of what it was six months ago.
June marked the 32nd consecutive month of “year-over-year” declines in the number of home foreclosure filings in Michigan.
Daren Blomquist is with RealtyTrac. He expects that trend will continue.
“We’ll see the declines continue at least through the end of this year,” says Blomquist, “But then I would expect in 2014 that’s probably when we’ll see the numbers flatten out.”
Michigan’s home foreclosure rate now ranks 15th in the nation. During the recent recession, Michigan’s foreclosure rate was among the nation’s highest, and at times was the highest in the United States.