Signs of Housing Distress Continue to Shrink

Julie C. Nichols General

Reblogged from Mortgage Daily News – Jann Swanson

The national foreclosure scenario continues to improve. CoreLogic’s June National Foreclosure Report shows the foreclosure inventory declined by 25.9 percent from the previous June and completed foreclosures nationwide decreased year over year from 40,000 in June 2015 to 38,000 in June 2016. That was a year-over-year drop of 4.9 percent and a decrease of 67.5 percent from the peak of 117,835 completed foreclosures in September 2010.

Completed foreclosures increased by 5.1 percent to 38,000 in June 2016 from the 36,000 reported for in May. As basis of comparison, CoreLogic says completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006 before the housing downturn began.

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