Us foreclosure inventory falls

CoreLogic has reported that the national foreclosure inventory fell by 27.4 per cent year-on-year in May 2015 to approximately 491,000 homes, or 1.3 per cent of all homes with a mortgage. This marks 43 consecutive months of year-on-year declines. At the same time, the 12-month sum of completed foreclosures has declined by 18.1 per cent, to 528,000, since May 2014. The seriously delinquent inventory fell to 1.3 million loans, a 22.7 per cent year-on-year decline.

There were 47 states that posted annual declines in the foreclosure inventory, and 27 of those states had decreases of more than 20 per cent. The five states with the largest drop were Florida (-47 per cent), Connecticut (-36.5 per cent), Idaho (-35.6 per cent), Washington (-35.3 per cent) and Illinois (-34.5 per cent). Only the District of Columbia (+22.5 per cent), Massachusetts (+22.4 per cent), Wyoming (+18.2 per cent) and South Dakota (+1.1 per cent) experienced year-on-year increases in the foreclosure inventory.