Banks repossessed 66,879 homes in May, down 4% from April and 29% from a year earlier, data from...

|By:, SA News Editor

Banks repossessed 66,879 homes in May, down 4% from April and 29% from a year earlier, data from real estate firm RealtyTrac shows. The number of foreclosure filings decreased 2% from April to 214,927. The drop in activity is due to processing delays and weak buying demand.