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U.S. foreclosure filings hit five-year low in September

Posted by Bonnie Martin Designated Broker on Thursday, October 11th, 2012 at 8:34am.

NEW YORK (CNNMoney) — The wave of foreclosures hitting the nation’s housing market has been much less severe than anticipated, with foreclosure filings at their lowest level in five years last month, according to a report out Thursday.

Foreclosure filings — including default notices, scheduled auctions and bank repossessions — were reported on 180,427 properties in September, a 7% decline from August and down more than 16% from a year earlier, according to a report released Thursday by RealtyTrac, an online marketer of foreclosed properties. That’s the lowest number of filings since September 2007.

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