LOS ANGELES (AP) -- There's a sharp drop in U.S. foreclosures.

The foreclosure listing firm RealtyTrac says the number of homes seized by lenders last month fell 11 percent from January and 29 percent from the same time last year.

It's the lowest level since September 2007.

RealtyTrac credits a resurging housing market, rising home prices and efforts by some states to buy homeowners more time to avoid losing their homes.