National foreclosure rates keep pushing down

L.A. and San Francisco post foreclosure inventory rates under 1 percent
  • The national serious delinquency rate is at 3 percent, the lowest level since October 2007.
  • 406,000 homes were in some state of foreclosure this April, a drop of 23.4 percent to mark the 54th consecutive month with a year-over-year decline.
  • Foreclosure inventory rose minimally in Houston at 1.3 percent but still only affects 0.6 percent of homes in the metro.
  • New York, Miami, D.C., Chicago, L.A. and San Francisco all saw substantial declines in foreclosure inventory.

More good news for the U.S. housing market rebound: national foreclosure rates continued a downward trend in April. Completed foreclosures, delinquency rates and homes facing foreclosures all softened at national, state and local levels.