First-Time Foreclosure at Lowest Level in 16 Years!

 Data provider Black Knight Financial Services reported Tuesday that first-time foreclosure starts were the lowest not just since the housing bubble burst, but since 2000, 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.

 -RW