On the surface, the foreclosure crisis seems to be easing. The number of foreclosure notices filed during the first three months of 2011 fell 27% compared with the first quarter of 2010, according to a report from RealtyTrac released Thursday.
Foreclosures accounted for a third of all sales -- and sold at a nearly 30% discount -- during the first three months of 2010.
A dubious distinction was reached during the first three months of 2010: More than 10% of all borrowers are now behind on their mortgage payments.
The median price of single family homes rose in 91 of 152 major metro markets during the first three months of the year compared with the same period in 2009.
Foreclosure filings declined in more than half of the country's worst-hit spots in the first three months of 2010. But that doesn't mean the healing has begun.
