Foreclosures ticked up 7 percent in October from the prior month, RealtyTrac reported today, while defaults in California, Florida and Michigan hit 12-month highs.
Foreclosure filings were reported on 230,678 U.S. properties in October, with one in every 563 U.S. housing units with a foreclosure filing during the month. The foreclosure rate did drop, though, nearly 31 percent from October 2010.
