Foreclosures Sink Back to 2007 Levels
NEW YORK (BankingMyWay) -- It's taken more than six years, but the foreclosure market has slid back to pre-Great Recession levels, with foreclosure filings down by 26% in all of last year.
Expect that to continue, as the housing market seems resurgent in the new year.
In a Jan. 19 USA Today interview with Wells Fargo Chief Executive John Stumpf, the big banking boss offers an optimistic outlook for the entire housing market in 2014.
Stumpf calls for continued growth in homes values, along with a conga line of buyers waiving their checkbook at sellers.According to RealtyTrac, nationwide residential home foreclosures have fallen by 53% from the market peak in 2010, and the foreclosure level of 1.4 million total last year just about matches 2007s total, when 1.3 million foreclosures hit the market.
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