If you are in the market to buy a home then this little statistic could be benificial to you.  Foreclosures can really be a very good deal and a potentiall less headache than a short sale.

RealtyTrac: Foreclosures Drop in November But Will Come Roaring Back in 2011

The number of foreclosures fell 21% in November versus the previous month and 14% versus a year ago, according to RealtyTrac, the online marketplace for foreclosure properties.  That’s the largest single month and year-over-year decreases since RealtyTrac started publishing this info in 2005.

That sounds like some well needed good news for housing market.  Unfortunately, the numbers are deceiving, says RealtyTrac senior vice president Rick Sharga. The decrease is due in large part to the foreclosure freeze caused by the “robo-sgning” scandal.

“The majority of the decreases due to the robo-signing issues that have been reported on a lot over the last month which have caused the lenders and servicers to delay foreclosure proceedings,” he says. “4th quarter numbers for this year will be artificially low,” but then will ramp up again in the first quarter of 2011.

In fact, Sharga predicts more foreclosures next year: “2011 will be a record year again for foreclosure activity and for the number of bank repossessions,” he tells Aaron in the accompanying clip.

What’s continuing to drive the trend is high unemployment, weak demand and  lending standards that remain tight.

Proving the old idiom, all real estate is local, 10 states account for 70% of the national foreclosures.  No surprise, Nevada, California and Florida continue to lead the pack.