Dive Brief:
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Foreclosures on U.S. properties spiked slightly for the second month in a row in August, according to data specialist RealtyTrac.
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Nearly 117,000 properties had received their foreclosure notices, or were scheduled for auction or repossession by their owners’ mortgage lenders. Still, foreclosure activity last month was 9% lower than it was a year ago.
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The greatest number of foreclosures occurred in Florida, followed by Nevada, Maryland, New Jersey, and Georgia.
Dive Insight:
While the blip in foreclosures could indicate that the housing recovery is not as strong as economists had believed, the number of owners losing their homes to the banks is far lower than it was during the recession.