Foreclosure inventory has dropped 35% in the last 12 months
Last month, about 752,000 homes in the U.S. were in some stage of the foreclosure process. That’s down from 1.2 million from this time last year. Month over month, foreclosure inventory was down 3.3%
Completed foreclosures also fell by 15%, according to the report. The report found that there were 43,000 completed foreclosures nationally, down from 51,000 in 2013.
“Although there is good news that completed foreclosures are trending lower, the bigger news is the impressive decline in the foreclosure inventories” said Dr. Mark Fleming, chief economist for CoreLogic. “Every state has had double-digit, year-over-year declines in foreclosure inventory, which is reflected in the $70 billion decline in the inventory”