Foreclosures Down For 43rd Straight Month

Foreclosure inventory in the United States has fallen for 43 consecutive months, year on year, down to just 1.3% of homes. The latest data from CoreLogic shows that …

Foreclosure inventory in the United States has fallen for 43 consecutive months, year on year, down to just 1.3% of homes.

The latest data from CoreLogic shows that national foreclosure inventory fell by 27.4% in May compared with the previous year to approximately 491,000 homes.

Also in May 2015, the 12 month sum of completed foreclosures fell by 18.1% to 528,000, since May 2014 while the seriously delinquent inventory fell to 1.3 million loans, a 22.7% year on year decline.

There were 47 states that posted year on year declines in the foreclosure inventory, and 27 of those states had decreases of more than 20% while only three states had year on year increases.

Try Gemini Today! 123

The Gemini Exchange makes it simple to research crypto market, buy bitcoin and other cryptos plus earn Up to 8.05% APY!

The five states with the largest year on year drop in the foreclosure inventory were Florida with a fall of 47%, Connecticut at 36.5%, Idaho at 35.6, Washington at 35.3% and Illinois at 34.5%.

The District of Columbia saw a 22.5% rise and the three states with foreclosure inventory growth were Massachusetts up 22.4%, Wyoming up 18.2% and South Dakota up 1.1%.

Judicial foreclosure states continued to have higher foreclosure rates in May 2015 than non-judicial states, averaging 2.2% and 0.7% percent, respectively.

The data also shows that the foreclosure rate for judicial states peaked in February 2012 at 5.4% while non-judicial states experienced peak foreclosure rates of 2.5% in January 2011.

As of May 2015 some 42% of outstanding mortgages were in judicial states, but 71% of total loans in foreclosure were in those states.

This article was republished with permission from Property Wire.

Share This:

In this article

gemini