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Housing Market

Sharp drop in US homes lost to foreclosure in Feb.

While lenders took back fewer homes last month, the number of properties that entered the foreclosure process in February increased 10 percent from the previous month, RealtyTrac said.

Foreclosures hit six-year low across nation

Data collected by RealtyTrac, a data collection firm based in Irvine, Calif., showed that foreclosure filings nationwide fell 28 percent in January from a year earlier.

Fewer US homes started on foreclosure path in Jan.

Because foreclosures typically sell at a sharp discount to other homes, a delayed wave of California foreclosures could potentially bring down the value of nearby homes when they sell.

Fewer US homes repossessed by banks in 2012

"That could mean that, although we are comfortably past the peak of the foreclosure problem nationally, 2013 is likely to be book-ended by two discrete jumps in foreclosure activity," Blomquist said.

Short sales outpacing sales of bank-owned homes

In the third quarter, sales of homes already in the foreclosure process jumped 22 percent compared to the previous quarter and a year earlier, foreclosure tracker RealtyTrac Inc. said Thursday.

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