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CoreLogic: Foreclosure Inventory Down 29 Percent in May

by Peter Thomas Ricci

CoreLogic’s National Foreclosure Report for May offered another dose of positivity for housing, with foreclosure inventory down by nearly a third.

corelogic-national-foreclosure-report-chicago-miami-houston-housing-recovery-foreclosure-inventory-serious-delinquencies

The U.S. foreclosure markets continued to improve in May, according to the latest National Foreclosure Report from CoreLogic. From foreclosure inventory, to serious delinquencies, to the oft-discussed shadow housing market, just about every segment of the distressed housing market showed considerable improvement in May, boding well for the summer months.

“We continue to see a sharp drop in foreclosures around the country and with it a decrease in the size of the shadow inventory,” said Anand Nallathambi, the president and CEO of CoreLogic. “Affordability, despite the rise in home prices over the past year, and consumer confidence are big contributors to these positive trends.”

But what of here in Miami? Though CoreLogic did not provide specific data about Miami, it did have quite a bit of information about Florida, much of it positive. Though Florida still has the nation’s highest foreclosure inventory, with 8.8 percent of all mortgaged properties in some state of foreclosure, that’s down 2.9 percentage points from May 2012. Also, the 103,000 foreclosures that Florida banks completed in May were good for the highest total in the U.S. Still, 13.3 percent of mortgaged homes in Florida do remain in seriously delinquency.

And how do those numbers compare with the rest of the nation? See our infographic below to find out:

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