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Housing survey says foreclosure decrease not what it may seem

Distressed Property Index fell from 49.6 percent to 47.3 percent in January.

Distressed Property Index fell from 49.6 percent to 47.3 percent in January.

Looks may deceive if a new report suggests the housing market is now solidly back on track.

According to a report from the latest Campbell/Inside Mortgage Finance Housing Pulse Tracking Survey, the Distressed Property Index fell from 49.6 percent in January to 47.3 percent last month.

However, the organization says this is probably not a true indication of fewer homes going into foreclosure, but rather representative of a delay in the number of listings mortgage companies were able to identify due to increased regulation and the accompanying paperwork that entails.

More telling statistics revealed that fewer people were moving into 'move-in ready' foreclosed properties last month, as the rate dipped from 17.5 percent in January to 15.4 percent in February.

On the positive side, more investors entered the housing market, as the survey indicates 23.5 percent of home purchases in February were from investors.

So long as the investors are reputable, this is good news for people planning on moving, as these people often renovate the homes and then sell the properties at a reduced rate.