Foreclosure Inventory Fell 36% in November: CoreLogic | South Salem Real Estate

The number of homes in some stage of foreclosure dropped 36% in November compared to the previous year, according to a report Wednesday from CoreLogic.

The Irvine, Calif.-based data firm said in a press release that roughly 567,000 homes were in foreclosure, compared to 880,000 homes in November 2013.

The number of completed foreclosures fell 10%, to 41,000. Compared to a peak in September 2010, completed foreclosures were down 64%.

“While the national level of foreclosures may normalize in the next two years, there will always be the potential for some pockets of distress in the mortgage market,” said Molly Boesel, a senior economist at CoreLogic, in a press release.

Florida reported the highest number of foreclosures for the 12-month period ending in November, with 118,000 homes completing the process.

 

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http://www.nationalmortgagenews.com/news/distressed/foreclosure-inventory-fell-36-in-november-corelogic-1043605-1.html

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