Foreclosure filings on U.S. properties fell 18% in 2014 compared to a year earlier,
The Irvine, Calif.-based company said that foreclosure filings — including default notices, bank repossessions and scheduled auctions — were reported on roughly 1.1 million properties. Filings were down 61% compared to their peak in 2010.
Less than 1% of all housing units were in some stage of foreclosure in 2014, the lowest annual rate since 2006.
"The U.S. foreclosure numbers in 2014 show a foreclosure market that is close to finding a floor and stabilizing at a historically normal level," said Daren Blomquist, a vice president at RealtyTrac, in a press release Thursday.
The report offered a note of caution, however, showing that foreclosure starts in December increased for the second consecutive month, reaching a 17-month high of 59,358.
On a year-over-year basis, foreclosure starts rose in 26 states across the country, including Massachusetts, New Jersey and Nevada.
"The December surge in foreclosure starts is not a cause for concern, as it comes from a previously existing supply of distressed properties," said Andres Carbacho-Burgos, a senior economist at Moody's Analytics, in the release.
