This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

CoreLogic Reports 55,000 Completed Foreclosures In March

IRVINE, Calif., April 30, 2013 /PRNewswire/ -- CoreLogic ® (NYSE: CLGX), a leading residential property information, analytics and services provider, today released its March National Foreclosure Report which provides data on completed U.S. foreclosures and the national foreclosure inventory. According to CoreLogic, there were 55,000 completed foreclosures in the U.S. in March 2013, down from 66,000 in March 2012, a year-over-year decrease of 16 percent. On a month-over-month basis, completed foreclosures rose from 52,000* in February 2013 to the March level of 55,000, an increase of 6 percent.

To view the multimedia assets associated with this release, please click: http://www.multivu.com/mnr/59594-corelogic-reports-completed-foreclosures-in-march

(Photo:  http://photos.prnewswire.com/prnh/20130430/MM03083)

As a basis of comparison, prior to the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006. Completed foreclosures are an indication of the total number of homes actually lost to foreclosure. Since the financial crisis began in September 2008, there have been approximately 4.2 million completed foreclosures across the country.

Approximately 1.1 million homes in the U.S. were in some stage of foreclosure, known as the foreclosure inventory, as of March 2013 compared to 1.5 million in March 2012, a year-over-year decrease of 23 percent. Month over month, the foreclosure inventory was down 1.9 percent from February 2013 to March 2013. The foreclosure inventory as of March 2013 represented 2.8 percent of all homes with a mortgage compared to 3.5 percent in February 2013.

"In March, completed foreclosures were down 52 percent from the peak in 2010, and almost all of the top 100 major metropolitan areas have declining foreclosure rates," said Dr. Mark Fleming, chief economist for CoreLogic. "The foreclosure rate nationally is down 23 percent relative to a year ago, signaling continued reduction in the stock of distressed assets."

"For 17 consecutive months, foreclosures have declined year over year across the U.S," said Anand Nallathambi, president and CEO of CoreLogic. "Although we still have more than a million homes in some stage of foreclosure, this trend, combined with rising home prices, is another signal of a gradually improving housing market."

Highlights as of March 2013:

  • The five states with the highest number of completed foreclosures for the 12 months ending in March 2013 were: Florida (103,000), California (83,000), Michigan (70,000), Texas (53,000) and Georgia (48,000). These five states account for almost half of all completed foreclosures nationally.
  • The five states with the lowest number of completed foreclosures for the 12 months ending in March 2013 were: South Dakota (81), District of Columbia (101), Hawaii (421), North Dakota (487) and West Virginia (554).
  • The five states with the highest foreclosure inventory as a percentage of all mortgaged homes were: Florida (9.7 percent), New Jersey (7.3 percent), New York (5.0 percent), Maine (4.4 percent) and Illinois (4.4 percent).
  • The five states with the lowest foreclosure inventory as a percentage of all mortgaged homes were: Wyoming (0.5 percent), Alaska (0.7 percent), North Dakota (0.7 percent), Nebraska (0.9 percent) and Montana (0.9 percent).

*February data was revised. Revisions are standard, and to ensure accuracy, CoreLogic incorporates newly released data to provide updated results.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,162.99 +121.45 0.67%
S&P 500 2,123.48 +19.28 0.92%
NASDAQ 5,106.5930 +73.8420 1.47%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs