Foreclosures in August reached an all-time high according to RealtyTrac, an online marketplace for foreclosed properties. Foreclosures were up 25% over August 2009 to 95,364 properties, a 3% increase over July, the company reported September 16. August’s record is 2% higher than the previous peak in May 2010 of 93,777 foreclosures.
This is the ninth consecutive month that bank repossessions have increased on a year-over-year basis, according to RealtyTrac.
Overall, foreclosure activity increased 4% from July, but fell 5% from August 2009. Default notices fell 1% between July and August, and fell 30% from August 2009, continuing a seven-month trend of falling default notices on a year-over-year basis.