I have noticed no slackening in the number of home foreclosures listed in the legal section of the local newspaper over the last five years.
Housing analyst Ivy Zelman had a report to clients on January 16 that stated: “Notices of Default were down 11% YOY given the improved delinquency pipeline and a continued focus on modifications and pre-foreclosure alternatives. We note that notices were also 36% below the level in December 2010 and down 58% from December 2009.”