have been relatively rare in the Missoula market, amounting to well below 0.5% of the total owner-occupied stock. In contrast, according to the NAR, more than one-third of all U.S. existing home sales in 2009— about 1.8 million units—were short sales or foreclosures. Montana has one of the lowest foreclosure and mortgage delinquency rates in the U.S. Only Nebraska, Alaska, Wyoming, and the Dakotas reported rates as low or lower than Montana, with exact rankings depending on how foreclosure and delinquency are measured. Nationally, according to online foreclosure marketer
Days on market in Missoula’s neighborhoods showed as many increases as decreases, with Grant Creek experiencing the greatest change.
RealtyTrac, a total of 2.7 million foreclosure filings — default notices, scheduled auctions and bank repossessions—were reported on 1.9 million U.S. properties in 2011, a decrease
of 34% from 2010. Total 2011 foreclosure filings represent about one in 69 U.S. properties—the lowest foreclosure rate since 2007. December 2011 foreclosure activity,
according to RealtyTrac, stood at its lowest level in 49 months. Short sales, in which the mortgage lender accepts proceeds from a sale for less than the total amount due on a
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