Foreclosure inventory down 34.3 percent nationally from a year ago
“The number of completed foreclosures ticked up a bit in September from the prior month and is still running above historic norms,” said Anand Nallathambi, president and CEO of CoreLogic. “Although the foreclosure inventory and rates of seriously delinquent loans remain elevated in many states, progress is being made and this bodes well for a better housing market in 2015 and beyond.”
Highlights as of September 2014:
- September represents 20 consecutive months of at least 20 percent year-over-year declines in the national inventory of foreclosed homes.
- All states posted double-digit declines in foreclosures year over year. The District of Columbia experienced a 7.1-percent increase.
- Twenty-nine states showed declines in year-over-year foreclosure inventory of greater than 30 percent, with Arizona (-47.6 percent) and Utah (-47.1 percent) experiencing the largest declines.
- The five states with the highest number of completed foreclosures for the 12 months ending in September 2014 were: Florida (120,000), Texas (36,000), California (31,000), Michigan (29,000) and Georgia (27,000). These five states accounted for almost half of all completed foreclosures nationally.
- Four states and the District of Columbia experienced the lowest number of completed foreclosures for the 12 months ending in September 2014: South Dakota (63), District of Columbia (68), North Dakota (286), West Virginia (458) and Wyoming (628).
- The five states with the highest foreclosure inventory as a percentage of all mortgaged homes were: New Jersey (5.7 percent), Florida (4.4 percent), New York (4.1 percent), Hawaii (2.9 percent) and Maine (2.7 percent).
- The five states with the lowest foreclosure inventory as a percentage of all mortgaged homes were: Nebraska (0.4 percent), Alaska (0.4 percent), Arizona (0.5 percent), North Dakota (0.5 percent) and Wyoming (0.5 percent).
*August data was revised. Revisions are standard, and to ensure accuracy, CoreLogic incorporates newly released data to provide updated results.
For ongoing housing trends and data, visit the CoreLogic Insights Blog: http://www.corelogic.com/blog.