Sunday, August 5, 2012

AP: Idaho Foreclosure Filings Drop 54 Percent

Posted By on Sun, Aug 5, 2012 at 12:00 PM

Idaho's foreclosure rate, a key economic indicator through much of our recent economic recession, has registered big declines in the first half of 2012, according to RealtyTrac.

The Associated Press reports that in March 2010, just as the recession was beginning to loosen its chokehold, foreclosure starts in the Treasure Valley stood at 597 but have fallen since. In fact, RealtyTrac says that new foreclosure filings statewide fell 54.5 percent in the first six months of the year, far outpacing the nation, which saw foreclosure filings drop 10.6 percent during the same period.

The AP reports that during 2011, distressed properties represented more than 57 percent of resale inventory in Ada County, and nearly 74 percent in Canyon County. Those numbers dropped to 36.7 percent in Ada and 56.6 percent in Canyon in the first half of 2012.

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