Aug. 29, 2013
/PRNewswire/ -- CoreLogic
(NYSE: CLGX), a leading residential property information, analytics and services provider, today released its July National Foreclosure Report which provides data on completed U.S. foreclosures and the national foreclosure inventory. According to CoreLogic, there were 49,000 completed foreclosures in the U.S. in
, down from 65,000 in
, a year-over-year decrease of 25 percent. On a month-over-month basis, completed foreclosures decreased 8.6 percent from the 53,000* reported in
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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
, there have been approximately 4.5 million completed foreclosures across the country.
, approximately 949,000 homes in the U.S. were in some stage of foreclosure, known as the foreclosure inventory, compared to 1.4 million in
, a year-over-year decrease of 32 percent. Month over month, the foreclosure inventory was down 4.4 percent from
. The foreclosure inventory as of
represented 2.4 percent of all homes with a mortgage compared to 3.4 percent in
"As the housing market continues to recover, the foreclosure inventory is declining quickly, down by 32 percent from a year ago," said
, chief economist for CoreLogic. "Continued strength in the housing market will contribute to our outlook for ongoing improvement in the stock of distressed assets through the end of this year."
"Completed foreclosures and delinquency rates continued their rapid descent in July. Every state posted a year-over-year decline in foreclosures and serious delinquencies fell to the lowest level since
, president and CEO of CoreLogic. "Not surprisingly, non-judicial states have come the farthest the fastest in reducing shadow inventory and lowering delinquency rates."
Highlights as of July 2013:
- The five states with the highest number of completed foreclosures for the 12 months ending in July 2013 were: Florida (110,000), California (65,000), Michigan (61,000), Texas (45,000) and Georgia (41,000).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 July 2013 were: District of Columbia (141), North Dakota (484), West Virginia (505), Hawaii (512) and Maine (754).
- The five states with the highest foreclosure inventory as a percentage of all mortgaged homes were: Florida (8.1 percent), New Jersey (5.9 percent), New York (4.7 percent), Connecticut (4.0 percent) and Maine (4.0 percent).
- The five states with the lowest foreclosure inventory as a percentage of all mortgaged homes were: Wyoming (0.4 percent), Alaska (0.6 percent), North Dakota (0.7 percent), Nebraska (0.7 percent) and Colorado (0.8 percent).
*June data was revised. Revisions are standard, and to ensure accuracy, CoreLogic incorporates newly released data to provide updated results.