Foreclosures easing in the US

New figures released show that the number of foreclosures in the US has eased in recent months.

The statistics, released by RealtyTrac, demonstrate a ten per cent fall in the number of foreclosed properties in the country during January, but experts are still predicting concern for the coming months.

James Saccacio, chief executive of RealtyTrac, said: "January foreclosure numbers are exhibiting a pattern very similar to a year ago.

"If history repeats itself we will see a surge in the numbers over the next few months as lenders foreclose on delinquent loans."

Such findings would suggest that individuals keen on buying a property in the US and looking to get their hands on a bargain may have to move fast as the repossessions market eases.

RealtyTrac's end of year report showed that foreclosures in the country had reached a record high at the end of 2009.

The rise in repossessions can be attributed to the economic climate and rising unemployment in the country.

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