After the release of CoreLogic’s [1] and RealtyTrac’s [2] respective foreclosure reports, the new data between the two showed one in every 1,600 housing units had a foreclosure filing which is a decrease of 24 percent from the year prior. These filings include notices of default, scheduled auctions and bank repossessions.
“Foreclosure activity has been on a steady slide downward over the past six years, finally dropping back below pre-crisis levels in September,” Daren Blomquist, senior vice president at ATTOM Data Solutions. “While we’ve know[n] that the national foreclosure problem has been dying a long, slow death for quite some time, the final nail in the coffin of the foreclosure crisis is the year-over-year decrease in the average foreclosure timeline nationwide that we saw in Q3 2016.”
Of these foreclosures, the ten states shown to have the most foreclosures consisted of New Mexico, Connecticut, Utah, South Carolina, Maryland, Florida, Illinois, Nevada, New Jersey, and Delaware. Here is a break-down of what the foreclosure rates look like in these states for September according to a report from Credit.com [3].
