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Foreclosure Inventory Rapidly Disappearing

Tuesday, July 14, 2015

More than a quarter of the national foreclosure inventory that existed in May 2014 had been absorbed by May of this year and completed foreclosures saw only slightly less improvement.  CoreLogic said today that the inventory of properties in the process of foreclosure, which had totaled 676,000 homes a year earlier had dropped to 491,000 by May 2015, a decrease of 27.4 percent.  Homes in foreclosure which had represented a rate of 1.7 percent of mortgaged homes declined to 1.3 percent.  The largest foreclosure inventories as a percent of mortgage homes were in New Jersey (4.9 percent), New York (3.7 percent), Florida (2.9 percent), Hawaii (2.5 percent) and District of Columbia (2.4 percent).


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