CoreLogic Issues January Foreclosure Report

116,000 foreclosures were completed in Florida during the last 12 months (Feb to Jan), leading all states in that category. Flagler saw 1,024 completed foreclosures during the same period.

Palm Coast, FL – March 3, 2014 – CoreLogic has issued its National Foreclosure Report for January. 116,000 foreclosures were completed in Florida during the last 12 months (Feb to Jan), leading all states in that category.  

Here are some highlights:

A CoreLogic analysis shows 48,000 foreclosures were completed nationally in January 2014, a 19% year-over-year decline from 59,000 in January 2013. By comparison, before the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006. On a month-over-month basis, completed foreclosures declined 11.8%. A completed foreclosure occurs when a property is auctioned at a foreclosure sale and results in the purchase by either a third party or by the lender.

Approximately 794,000 homes in the U.S. were in some stage of foreclosure as of January 2014, compared to nearly 1.2 million in January 2013, a decrease of 33%. This was the 27th consecutive month with a year-over-year decline. As of January 2014, the foreclosure inventory represented 2.9% of all homes with a mortgage compared to 2.9% in January 2013. The foreclosure inventory declined 3.3% from December 2013 to January 2014.

Five states with the highest foreclosure inventory as a percentage of mortgaged homes were Florida (6.4%), New Jersey (6.3%), New York (4.8%), Connecticut (3.4%) and Maine (3.4%).

Five states with the lowest foreclosure inventory as a percentage of mortgaged homes were Wyoming (0.4%), Alaska (0.5%), North Dakota (0.5%), Colorado (0.5%) and Nebraska (0.5%).

Five states with the highest number of completed foreclosures during the past 12 months were Florida (116,000), Michigan (52,000), Texas (39,000), California (38,000) and Georgia (35,000).