Foreclosure Inventory Lowest since 2007

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Posted To: MND NewsWire

Foreclosure activity continues to decline but the change year-over-year in February was minimal, actually smaller than the decrease from January to February, and completed foreclosures remain more than 50 percent higher than before the housing crisis. CoreLogic said that there were 34,000 completed foreclosures in February compared to 38,000 in February 2015 a decline of 10 percent. On a month-over-month basis foreclosures declined by 13.9 percent from the revised January 2016 estimate of 39,000 foreclosures. As a basis of comparison, before the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006 but at the peak of foreclosure activity in September 2010 there were 117,776 homes repossessed. Since 2008 over 6 million homes…(read more)

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