reports Andrea Riqueir at MarketWatch.
There were 77,657 such starts in the second quarter, Black Knight said. That’s a 16% decline from the first quarter and 25% lower than the same period a year ago.
Repeat foreclosures are also falling rapidly: there were 114,620 in the second quarter, down 17% from the first quarter and 8% compared to a year ago, but still more than double the level they averaged from 2000 to 2005.
This nothing like what a recession looks like.