Irvine, CA, June 10, 2014 — Foreclosure activity in the U.S. fell to an eight-year low in May, according to tracking firm RealtyTrac.
RealtyTrac said 109,824 properties across the country were at some stage of the foreclosure process in May, which was down 5% from April and 26% from a year ago.
May was the 44th consecutive month foreclosure activity was down year-over-year.
Lenders reclaimed a total of 28,373 properties in May, down 6% from April and 27% from a year ago. It was also the lowest level since July 2007.
Florida continued to have the highest foreclosure rate.