Data powerhouse CoreLogic recently released their National Foreclosure Report showing that nationwide foreclosure inventory declined 25.9% in November (year over year). There were 26k completed foreclosures in November representing a 25.9% decrease from November 2015. Across the country there were approximately 325k homes in foreclosure, which represent 0.8% of all homes with a mortgage – compared with 465k (1.2% of all homes) in November 2015. According to the report, the five states with the highest number of completed foreclosures were Florida (48k), Michigan (31k), Texas (25k), Ohio (22k) and Georgia (20k). Taken together, these five states account for 36% of completed foreclosures.
“The decline in serious delinquency has been substantial, but the default rate remains high in select markets,” said Dr. Frank Nothaft, chief economist for CoreLogic.
