Some interesting stats on the state of the housing market from CoreLogic reveal some interesting patterns and identify hotspots on the map when it comes to home foreclosures
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This from the company’s latest research… According to CoreLogic, for the month of January 2014, there were 48,000 completed foreclosures nationally, down from 59,000 in January 2013, a year-over-year decrease of 19 percent. On a month-over-month basis, completed foreclosures were up 11.8 percent from the 43,000* reported in December 2013. As a basis of comparison, before the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006.
Highlights as of January 2014:
- The five states with the highest number of completed foreclosures for the 12 months ending in January 2014 were Florida (116,000), Michigan (52,000), Texas (39,000), California (38,000) and Georgia (35,000).These five states account for almost half of all completed foreclosures nationally.
- The five states (including the District of Columbia) with the lowest number of completed foreclosures for the 12 months ending in January 2014 were District of Columbia (60), North Dakota (427), Hawaii (526), West Virginia (543) and Wyoming (732).
- The five states with the highest foreclosure inventory as a percentage of all mortgaged homes were Florida (6.4 percent), New Jersey (6.3 percent), New York (4.8 percent), Connecticut (3.4 percent) and Maine (3.4 percent).
- The five states with the lowest foreclosure inventory as a percentage of all mortgaged homes were Wyoming (0.4 percent), Alaska (0.5 percent), North Dakota (0.6 percent), Colorado (0.5 percent) and Nebraska (0.6 percent).
- Including distressed sales, the five states with the highest home price appreciation were Nevada (+22.2 percent), California (+20.3 percent), Oregon (+14.3 percent), Michigan (+13.7 percent) and Georgia (+13.4 percent).
- Including distressed sales, only Mississippi (-0.3 percent) posted home price depreciation in January 2014.
- Excluding distressed sales, the five states with the highest home price appreciation were Nevada (+17.2 percent), California (+16.0 percent), Florida (+12.7 percent), Arizona (+11.5 percent) and Oregon (+11.4 percent).
- Excluding distressed sales, no states posted home price depreciation in January.
- Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to January 2014) was -17.3 percent. Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -13.3 percent.
- The five states with the largest peak-to-current declines, including distressed transactions, were Nevada (-40.1 percent), Florida (-36.4 percent), Arizona (-30.8 percent), Rhode Island (-30.5 percent) and West Virginia (-28.9 percent).
- Ninety-seven of the top 100 Core Based Statistical Areas** (CBSAs) measured by population showed year-over-year increases in January 2014. The three CBSAs that did not show an increase were New Haven-Milford, CT, Philadelphia, PA. and Rochester, NY.
- See more highlights
Foreclosure Map, Jan 2014 (Source)
See more details on these findings