Tuesday, April 12, 2016

CoreLogic: Foreclosure Inventory Declines 23.9% Year-over-year

by Bill McBride on 4/12/2016 11:44:00 AM

CoreLogic released their National Foreclosure Report for February this morning.

CoreLogic reported that the national delinquency rate was at 3.2% in February, the lowest since November 2007.

From CoreLogic:

Approximately 434,000 homes in the United States were in some stage of foreclosure as of February 2016, compared to 571,000 in February 2015, a decrease of 23.9%. This was the 52nd consecutive month with a year-over-year decline. As of February 2016, the foreclosure inventory represented 1.2% of all homes with a mortgage, compared to 1.5% in February 2015.
CoreLogic breaks down the foreclosure inventory by judicial vs non-judicial foreclosure states (see page 8 and 9 of the report). The judicial foreclosure states - that are still working through the backlog of foreclosures - have far more foreclosure inventory than the non-judicial foreclosure states.