This week data powerhouse CoreLogic released their National Foreclosure Report showing that nationwide foreclosure inventory declined 31.5% (year over year). There were 30k completed foreclosures in October representing a 24.9% decrease from October 2015. Across the country there were approximately 328k homes in foreclosure, which represent 0.8% of all homes with a mortgage. The five states with the highest number of completed foreclosures were Florida (51k), Michigan (29k), Texas (26k), Ohio (23k) and Georgia (20k). Together, they account for 36% of completed foreclosures nationally.
“Housing and labor markets improved over the past year, setting the stage for further declines in foreclosure rates across much of the nation,” said Anand Nallathambi, president and CEO of CoreLogic. “Home values posted an annual gain of 5.8 percent through September in the CoreLogic Home Price Index, and payroll employment rose 2.4 million for the year through October.”
