With one filing for every 417 houses nationally, November saw the lowest amount of foreclosure activity since February. The numbers, while 18 percent higher than the same month last year, were a result of "loan modifications and other foreclosure prevention efforts," said RealtyTrac chief executive James J. Saccacio. He said the recently extended and expanded homebuyer tax credit was keeping a lid on home value depreciation.

Saccacio warned, however, that a full recovery will come only "when unemployment recedes to normal, healthy levels and when availability of credit reaches a more rational balance between the extremes of the past few years." Data from Integrated Asset Services of Denver showed values continuing to decline despite the buying boom fostered by the tax credit. Home values actually declined 0.05 percent nationally in October from September, with the Northeast, especially metropolitan Boston, dragging the numbers down. The Northeast region fell 1.6 percent; the Middle Atlantic, 0.06 percent.