RealtyTrac: February U.S. Foreclosure Filings Down 27% - Quick Facts

(RTTNews) - RealtyTrac, an online marketplace for foreclosure properties, reported that foreclosure activity in the U.S. declined 27 percent in the month of February, representing the lowest monthly total since December 2006 -- a more than seven-year low.

In its U.S. Foreclosure Market Report, the agency noted that foreclosure filings were reported on 112,498 U.S. properties in February, a 10 percent decrease from January and down 27 percent from the same period last year.

Daren Blomquist, vice president at RealtyTrac, stated, "Cold weather and a short month certainly contributed to a seasonal drop in foreclosure activity in February, but the reality is that new activity is no longer the biggest threat to the housing market when it comes to foreclosures,"