The nation’s active foreclosure inventory has fallen below pre-recession levels, according to the first look at monthly mortgage data from financial analytics company Black Knight Inc.

Active foreclosure inventory dropped below 300,000 for the first time since the third quarter of 2006, according to the data, a year-over-year decrease of 119,000. There were 43,500 total foreclosure starts in the month of June, the lowest level in 17 years, down 3.12 percent month-over-month and 23.01 percent year-over-year.

Despite the overall downward trend in foreclosure in delinquency rates since the recession, the number of homes in foreclosure actually ticked up slightly from May to June, climbing by 45,000.

It’s still a year-over-year decline of 126,000. The total home loan delinquency rate — mortgages that were more than 30 days late but not yet in foreclosure — also jumped 2.71 percent month-over-month, but was still down 1.59 percent year-over-year.

The rate of home loans that were more than 90 days late hit a new pre-recession low after spiking during the 2017 hurricane season. In June, 548,000 homes were more than 90 days delinquent, down 20,000 month-over-month and 7,000 year-over-year.

Regionally, Mississippi has the highest rate of loans more than 90 days delinquent, followed by Florida, Louisiana, Alabama and Arkansas.

A full look at the numbers and analysis will be available on August 6. 

Email Patrick Kearns

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription