Great news for remodeling, less foreclosure activity

While all of our eyes were focused on the goings on with our Government a small fact seems to have been overlooked. September was the 36th consecutive month with an annual decrease in U.S. foreclosure activity, a downward trend that started in October 2010. This is great news for a handyman and remodeling business and the home improvement market in general.

Lower foreclosure activity good news for remodeling market

National Mortgage Professional reports that RealtyTrac U.S. Foreclosure Market Report for September shows foreclosure filings such as default notices, scheduled auctions and bank repossessions, were reported on 131,232 U.S. properties in September, a 27 percent decrease from a year ago. This is great news for the handyman and home improvement market. Even if people are not planning on selling their home anytime soon they may be interested in repairing and improving it. First and foremost less foreclosures is great to see for it is a decrease in the personal heartache and suffering of those who go through the foreclosure process. Secondly with less foreclosures everyone feels better about from having less poorly maintained properties in a neighborhood

At House Doctors we have just launched our new website to take advantage of the growing home improvement market and this reduction in foreclosures will just add to an already booming niche.
September numbers helped drop third quarter foreclosure activity to the lowest quarterly level since the second quarter of 2007. There were a total of 376,931 U.S. properties with foreclosure filings in the third quarter of 2013, down seven percent from the previous quarter and down 29 percent from the third quarter of 2012. This is the biggest annual decrease since the second quarter of 2011.
Let's face it less foreclosures usually means less crime, higher home values and less competition when you come to sell. This all leads to a healthier housing market, more home improvements, and a stronger economy.
U.S. foreclosure starts in the third quarter were at a seven-year low. A total of 174,366 U.S. properties started the foreclosure process for the first time during the quarter, down 13 percent from the previous quarter and down 39 percent from a year ago to the lowest level since the second quarter of 2006.