The number of U.S. homes currently in some stage of foreclosure totals 607,000, compared with 924,000 in September a year ago. That represents a year-on-year decline in the national foreclosure inventory of 34.3%. Month over month, the foreclosure inventory dropped 2.8%.
The five states with the highest number of completed foreclosures in the past 12 months were Florida (120,000), Texas (36,000), California (31,000), Michigan (29,000) and Georgia (27,000). The five states with the fewest foreclosures in the 12 months through September were South Dakota (63), District of Columbia (68), North Dakota (286), West Virginia (458) and Wyoming (628).
The five states with the largest inventories of foreclosed properties as a percentage of mortgaged properties are New Jersey (5.7%), Florida (4.4%), New York (4.1%), Hawaii (2.9%) and Maine (2.7%). The five states with the lowest inventories of foreclosed properties are Nebraska (0.4%), Alaska (0.4%), Arizona (0.5%), North Dakota (0.5%) and Wyoming (0.5%).
CoreLogic’s CEO said:
The number of completed foreclosures ticked up a bit in September from the prior month and is still running above historic norms. 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.
According to CoreLogic, the 12-month total of completed foreclosures is at its lowest level since October 2007 and has declined every month for the past 35 months.