With the real estate market continuing to get back on track, monthly foreclosure numbers are at the lowest level in more than seven years.
In February 112,498 foreclosure filing notices were sent out across the U.S., down 27 percent compared to February 2013, according to data from RealtyTrac, an online database for real estate property. That's the lowest monthly total since December 2006, before the start of the national recession.
In Whatcom County 16 foreclosure filing notices were sent out last month, matching an eight-year low. One in every 5,660 Whatcom County housing units received a foreclosure filing notice last month, according to RealtyTrac.
"Cold weather and a short month certainly contributed to a seasonal drop in foreclosure activity in February, but the reality is that new activity is no longer the biggest threat to the housing market when it comes to foreclosures," said Daren Blomquist, vice president of RealtyTrac, in a news release accompanying the data. "The biggest threat from foreclosures going forward is properties that have been lingering in the foreclosure process for years."
Florida, Maryland and Nevada posted the highest foreclosure rates last month, with Washington ranking 19th highest.