Northwest Arkansas Foreclosure Rate Remains Low

Local foreclosure activity increased slightly in June, but remained well below 2013 numbers.

Benton County had 44 foreclosures last month compared with 42 in May and 103 in June 2013, according to RealtyTrac, an online marketplace for foreclosure properties.

Washington County had 23 filings last month, 13 in May and 53 in June 2013.

Arkansas' June foreclosure rate fell 6 percent from May and 43 percent from a year earlier.

June foreclosures nationally were down 2 percent from the previous month and down 16 percent from a year ago. These are the lowest national levels since July 2006.

"While it's important that any remaining foreclosure infection is addressed promptly to keep it from festering, foreclosures are no longer a widespread contagion threatening to derail the housing market's return to full health," Daren Blomquist, RealtyTrac vice president, said in a news release.

RealtyTrac's quarterly report shows foreclosure activity dropped dramatically between the second quarters of 2013 and 2014.

Benton County's rate for April through June dropped 71 percent from the same time period in 2013. The county had 119 foreclosures in the quarter.

Washington County foreclosures dropped 69 percent over last year to 49 filings.

NW News on 07/17/2014

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