June 15, 2016
Irvine, CA-based CoreLogic reported foreclosure inventory in April declined 23% and completed foreclosures dropped 15.8% compared with April 2015. The most recent national report revealed the number of completed foreclosures nationwide decreased year-over-year from 43,000 in April 2015 to 37,000 in April 2016.
CoreLogic says that represents a decrease of 68.9% from the peak of 117,813 in September 2010. Additionally, the number of mortgages in serious delinquency declined by 21.6% since April 2015. Both of those rates are the lowest they’ve been since the fall of 2007.
CoreLogic’s Dr. Frank Nothaft says, “The recovery in home prices and improved labor market have contributed to the drop in seriously delinquent rates.”