Foreclosure activity has been falling steadily for the past few years as the housing market recovers, but the latest reading shows it has hit a new milestone.
According to RealtyTrac, a foreclosure sales and analytics company, 107,194 U.S. properties had a foreclosure filing in June—the lowest level since July 2006, before the housing price bubble burst.
“Over the next six to nine months, nationwide, foreclosure numbers should start to flat line at consistently historically normal levels,” said RealtyTrac’s Daren Blomquist in a release.