According to a new RealtyTrac report, foreclosures are declining in the Memphis area. As far as foreclosures go locally, they seem to have dropped in occurrence by 34 percent from 2010-2011. By December 2011, foreclosures were at their lowest level in 49 months.

As a whole, Tennessee has 13,562 foreclosed homes on the market. Tennessee is ranked below the national average, where 1 in 634 houses file for foreclosure. In Tennessee, it’s 1 in every 885 homes.

The Memphis movers hope that our city and state keep on the upside of US foreclosures. Currently, the highest foreclosure rates are in California, Nevada and Arizona.