The number of foreclosures continues to drag on the nationwide real estate market, according to RealtyTrac.

Foreclosure filings, including default notices, auction sale notices, and bank repossessions, decreased 3 percent in June from May’s levels, but were still 53 percent above the number a year ago.

Over a quarter of a million homes, or one out of every 501, across the nation received a foreclosure filing in June. It was the 30th-straight month of year-over-year increases in the number of foreclosures.

“Foreclosure activity slipped 3 percent lower from the previous month, but the year over year increase of more than 50 percent indicates we have not yet reached the top of this foreclosure cycle,” according to James J. Saccacio, RealtyTrac’s CEO.

Nevada, California and Arizona led the nation with the most foreclosures.

Georgia, sixth in the nation in the number of foreclosures last month, dropped to the eighth spot overall with 1 out of every 444 houses in foreclosure. In an encouraging sign, the pace of foreclosures lessened 14.91 percent from May, though it still was 21.18 percent above last year’s figure.

We’d love to be your real estate closing attorneys in Atlanta. Want to know more? Contact us and we’ll be happy to discuss how Harlan and Associates can be of service to you!

cake mix noir, originally uploaded by phantom kitty.