Detroit foreclosures still dragging down national rates

  • September saw double-digit declines in foreclosure inventory on a year-over-year basis, but also a nearly 50-percent surge in completed foreclosures on a month-over-month basis.
  • CoreLogic attributed the one-month surge in part to an annual public auctioning of thousands of tax-foreclosed properties in the Detroit area.

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September saw double-digit declines in foreclosure inventory on a year-over-year basis, but also a nearly 50-percent surge in completed foreclosures on a month-over-month basis, according to property information provider CoreLogic’s latest National Foreclosure Report.