Foreclosure activity dropped 4.39% last month compared with the previous month probably because of the temporary moratorium, according to RealtyTrac. "The drop is probably artificial," said Rick Sharga, senior vice president of RealtyTrac. "Unemployment is still high. None of the things that would lead to a recovery have come to the forefront." More than 332,000 properties were in some stage of the foreclosure process last month.