SANTA ANA, Calif.
July 31, 2012
/PRNewswire/ -- CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released its National Foreclosure Report for June, which provides monthly data on completed foreclosures and the overall foreclosure inventory. According to the report, there were 60,000 completed foreclosures in the U.S. in
compared to 80,000 in
and 60,000* in
. Since the financial crisis began in
, there have been approximately 3.7 million completed foreclosures across the country. Completed foreclosures are an indication of the total number of homes actually lost to foreclosure.
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Approximately 1.4 million homes, or 3.4 percent of all homes with a mortgage, were in the national foreclosure inventory as of
compared to 1.5 million, or 3.5 percent, in
. Month-over-month, the national foreclosure inventory was unchanged from
. The foreclosure inventory is the share of all mortgaged homes in some stage of the foreclosure process.
"While completed foreclosures and real-estate owned (REO) sales virtually offset each other over the past four months, producing static levels of foreclosure inventory for most of this year, they are beginning to diverge again," said
, chief economist for CoreLogic. "Over the last two months REO sales declined while completed foreclosures leveled out. So we could see foreclosure inventory rising going forward."
"The decline in the flow of completed foreclosures to pre-financial crisis levels is more welcome news pointing to an emerging housing market recovery," said
, president and CEO of CoreLogic. "However, we believe even more can be done to reduce the inventory of foreclosures by decreasing the level of regulatory uncertainty and expanding alternatives to foreclosure."