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CoreLogic: Foreclosure Inventory Drops 33% in August

by Peter Thomas Ricci

The nation’s foreclosure markets have been showing considerable improvement in 2013, but did that trend continue in August?

national-foreclosure-report-august-corelogic-completed-foreclosures-foreclosure-inventory-serious-delinquencies

The good news continued for the nation’s foreclosure markets, according to CoreLogic’s latest National Foreclosure Report, with foreclosure inventory, completed foreclosures and serious delinquencies all showing progress.

Mark Fleming, the chief economist for CoreLogic, said with the progress that has been made, any spikes in distressed properties is unlikely.

“A surge in completed foreclosures and a rise in the foreclosure inventory is unlikely, given continued house price improvements and shortages of supply in many markets,” Fleming said.

Here in Florida, the news was positive as well. Though foreclosure inventory remains the highest in the nation at 7.9 percent, that’s down 3.6 percentage points – or, a whopping 31 percent – from last year, and the 111,000 foreclosures the state completed was the  highest in the nation. Similarly, Illinois’ inventory was down 2.0 percentage points to 3.3 percent of all mortgaged properties, and more than 31,000 foreclosures have been completed.

But still, there remains room for improvement; the serious delinquency rate state is still 12.4 percent.

Interested in the main findings of CoreLogic’s report? Check out our infographic below:

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