Talking Points …

  • Foreclosure activity across the United States dropped to an eight-year low in May as banks reclaimed fewer homes and foreclosure starts saw their lowest levels in years, according to a new report from RealtyTrac.
  • While the report found that one in every 1,199 U.S. housing units had a foreclosure filing during the month, individual states saw monthly increases, despite the overall national decline. Statewide, 21 states posted monthly increases in overall activity, with 11 states posting annual increases in foreclosure activity.
  • RealtryTrac also found that bank repossessions also fell in May, hitting the lowest level seen since July 2007—an 82-month low. Lenders repossessed 28,373 U.S. properties in May, down 6 percent month-over-month and down 27 percent yearly.