There were 46,000 completed foreclosures nationally in Sept., down from 68,000 in Sept. 2013. Flagler County experienced 100 foreclosure completions down from 128 one year ago.
Palm Coast, FL – October 29, 2014 – The September National Foreclosure Report released today by CoreData shows 46,000 foreclosures were completed in September 2014, a 32.6 percent year-over-year decline from 68,000* in September 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 were up by 4.7 percent. Completed foreclosures are an indication of the total number of homes actually lost to foreclosure.
During September 2014, Flagler County experienced 100 foreclosure completions down from.128 one year ago. A completed foreclosure occurs when a property is auctioned and results in the purchase of the home at auction by either a third party, such as an investor, or by the lender.
There are currently 714 open foreclosure cases in Flagler County, down from nearly 1,000 a few months ago. Approximately 607,000 homes in the United States were in some stage of foreclosure as of September 2014, compared to 924,000 in September* 2013, a decrease of 34.3 percent. This was the 35th consecutive month with a year-over-year decline. As of September 2014, the foreclosure inventory represented 1.6 percent of all homes with a mortgage, compared to 2.3 percent in September 2013.
New Jersey (5.7%) leads all states in the highest foreclosure inventory as a percentage of mortgaged homes, followed by Florida (4.4%), New York (4.1%), Hawaii (2.9%) and Maine (2.7%).
The five states with the lowest foreclosure inventory as a percentage of mortgaged homes are Nebraska (0.4%), Alaska (0.4%), Arizona (0.5%), North Dakota (0.5%) and Wyoming (0.5%).
Florida led the nation with the most completed foreclosures in the past 12 months with 120,000, nearly as many as the next four states Texas (36,000), California (31,000), Michigan (29,000) and Georgia (27,000) combined.
Florida leads all states in the number of seriously delinquent mortgages with 8.6%, more than double the 4.2% national average.