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Tag Archives: completed foreclosures

Foreclosure Inventory Rate Drops to Below Pre-Recession Levels

The foreclosure inventory rate has now declined year-over-year for 44 consecutive months, including June. The 1.2 percent foreclosure inventory rate represented about 472,000 homes, down from 664,000 in June 2014. Although the national foreclosure inventory rate is back to pre-recession levels, the rate remains high in select areas hit hardest by the crisis, such as Florida and New Jersey.

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Completed Foreclosures Decline But Remain At Double Pre-Recession Levels

"Despite a slow and steady improvement in most housing market fundamentals, too many families remain in default of their mortgage obligations," said Anand Nallathambi, President and CEO of CoreLogic. "The percent of homeowners with a mortgage that have missed three or more monthly payments or are in foreclosure proceedings dropped to 3.6 percent in our April data. While well below the record peak of nearly 9 percent and the lowest in more than seven years, it remains about double the pre-2007 rate."

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Foreclosure Inventory Drops By One-Third Year-Over-Year

Completed foreclosures have totaled approximately 5.5 million nationwide since the height of the financial crisis in September 2008 and have totaled approximately 7 million since homeownership peaked in the second quarter of 2004. January's foreclosure rate of 1.4 percent, meaning 1.4 percent of all residential homes with a mortgage nationwide are in some state of foreclosure, was the lowest level reported since March 2008. Year-over-year, the foreclosure rate was down 0.6 percentage points, from 2.0 percent reported in January 2014.

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Foreclosures Continue Steady Nationwide Decline in December

Foreclosures in the United States have been steadily declining for months nearly every way the numbers are broken down, and December was no exception, according to CoreLogic's December 2014 National Foreclosure Report released Tuesday. Foreclosure inventory nationwide dropped in December down to 552,000 from 840,000 in December 2013, a decline of 34.3 percent. As of the end of December 2014, approximately 1.4 percent of all homes with a mortgage were in some state of foreclosure – a decline from 2.1 percent from the previous December. The current foreclosure rate of 1.4 percent is the lowest level since March 2008.

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