IRVINE, Calif., Oct. 8, 2013 /PRNewswire/ -- CoreLogic ® (NYSE: CLGX), a leading residential property information, analytics and services provider, today released its August National Foreclosure Report with a supplement featuring quarterly shadow inventory data as of July 2013.
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According to CoreLogic analysis:
- There were 48,000 completed foreclosures in the U.S. in August of 2013, down from 72,000 in August 2012, a year-over-year decrease of 34 percent. On a month-over-month basis, completed foreclosures increased 1.3 percent, from 47,000 in July 2013*.
- Overall residential shadow inventory, as of July 2013, was 1.9 million homes, accounting for a value of $293 billion and representing a supply of 3.7 months. This was down 22 percent from a year ago, when it was at 2.4 million and down 38 percent from its peak in 2010, when it reached 3 million homes.
- The five states with the highest number of completed foreclosures for the 12 months ending in August 2013 were: Florida (111,000), Michigan (60,000), California (58,000), Texas (43,000) and Georgia (40,000).These five states accounted for almost half of all completed foreclosures nationally.
- The five states with the lowest number of completed foreclosures for the 12 months ending in August 2013 were: District of Columbia (94), North Dakota (463), Hawaii (492), West Virginia (501) and Wyoming (723).
- The five states with the highest foreclosure inventory as a percentage of all mortgaged homes were: Florida (7.9 percent), New Jersey (6.2 percent), New York (4.9 percent), Maine (4.0 percent) and Connecticut (3.9 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 (0.7 percent).
- As of July 2013, shadow inventory was under 2 million properties, representing 3.7 months' supply or 85 percent of the 2.2 million properties that were seriously delinquent, in foreclosure or REO.
- Of the fewer than 2 million properties in the shadow inventory (Figures 1 and 2), 874,000 properties were seriously delinquent (1.8 months' supply), 661,000 were in some stage of foreclosure (1.3 months' supply) and 318,000 were already in REO (0.6 months' supply).
- The value of shadow inventory was $293 billion as of July 2013, down from $380 billion in July 2012.
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