Home Foreclosures at a Six-Year Low [Report]
Black Enterprise Magazine July/August 2018 Issue

Here’s some good news for the economy: Home foreclosures fell to a six-year low last month, indicating the rebound in the housing market is for real, reports Reuters.

According to a report released Thursday by RealtyTrac, foreclosure activity in April was seen on 144,790 properties. That’s down 5 percent from March, and down 23 percent from last year. And it’s the lowest level since February 2007.

RealtyTrac’s report also accounts for default notices, scheduled auctions, and bank repossessions. The number of homes considered underwater – the mortgage is worth at least 25 percent more than the home’s value — fell 11.3 million at the beginning of May. That’s down from 12.8 million homes in May of last year.

Join the Conversation

Aaron Morrison

Aaron Morrison is an award-winning New York area-based multimedia journalist with a B.A. in Journalism from San Francisco State University. Aaron uses video, audio, photography, the web and social networks to tell captivating stories across all media platforms. Over the last year, Aaron has worked as a general assignment reporter for the Daily Record (Gannett) in northern New Jersey. Before that, he spent the spring of 2010 as the temporary legislative relief reporter for The Associated Press' statehouse bureau in Trenton, N.J. In his down time, Aaron enjoys the company of his friends and extended family. He is a fan of culinary arts and dreams of having a home kitchen so tricked out that Julia Child turns over in her grave.


MORE ON BlackEnterprise.com