According to foreclosure data firm RealtyTrac, the number of foreclosure filings nationwide rose 9 percent in May.

Last month marks the first time since July 2007 that foreclosure filings numbered less than 200,000 on a monthly basis -- a span of nearly 5 years.

Recent data suggests that the U.S. housing market is in recovery, albeit an uneven one.

After a series of months during which volume was low, foreclosure filings have started to rise again.

According to the National Association of REALTORS®, Existing Home Sales rose 8 percent in August.