Foreclosure activity fell in 14 of the top 20 U.S. metropolitan areas in the first quarter compared with a year earlier, RealtyTrac said on Thursday.
“The decreasing foreclosure activity in some of the nation’s top foreclosure hot spots in the first quarter is largely the result of government intervention and other non-market influences, and not a sure signal that those areas are out of the woods yet when it comes to foreclosures,” James J. Saccacio, chief executive of RealtyTrac, said in a statement.
According to RealtyTrac, foreclosure activity nationwide increased 16% from the first quarter of 2009.
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