DataMarkets & Economy

Foreclosure inventory dips in August, says CoreLogic

Report shows completed foreclosures have fallen 69 percent from 2010 peak
  • Foreclosure inventory dipped 29.6 percent and completed foreclosures fell 42.4 percent annually in August.
  • The number of completed foreclosures nationwide decreased annually, from 64,000 to 37,000 in August 2016.
  • Comprising 35 percent of the nation's completed foreclosure inventory, Florida, Texas, Ohio, California and Georgia had the most reported foreclosures completed.

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Foreclosures are becoming less and less of a commonality throughout the nation, and according to CoreLogic's August 2016 National Foreclosure Report, foreclosure inventory and completed foreclosures both dipped in August compared with the previous year. Completed foreclosures in the U.S. decreased from 64,000 in August 2015 to 37,000 in August 2016, the report shows. This annual fall marks a 69 percent dip from the highest peak reported in September 2010 of 118,221. “Foreclosure inventory fell by 30 percent from the previous year, the largest year-over-year decline since January 2015,” CoreLogic Chief Economist Dr. Frank Nothaft said in a statement. “The large decline in the distressed inventory has been one of the drivers of steady home price growth, which helps Americans increase their home equity to support increased spending or cushion future economic risk.” As of August, 0.9 percent of national housing inventory was comprised of foreclosures, a total of 351...