The U.S. ended the month of June with 60,000 completed foreclosures, a 24% drop from year ago levels when 80,000 foreclosures were reported for the same month, according to a report from mortgage data analytics firm CoreLogic.The steep drop puts completed foreclosures at a level not seen since 2007.
Santa Ana, Calif,-based CoreLogic says the drop in completed foreclosures is good news, but other issues in the housing market remain.
“The decline in the flow of completed foreclosures to pre-financial crisis levels is more welcome news pointing to an emerging housing market recovery,” said Anand Nallathambi, president and CEO of CoreLogic. “However, we believe even more can be done to reduce the inventory of foreclosures by decreasing the level of regulatory uncertainty and expanding alternatives to foreclosure.”
Mark Fleming, chief economist for CoreLogic, said, “While completed foreclosures and real-estate owned (REO) sales virtually offset each other over the past four months, producing static levels of foreclosure inventory for most of this year, they are beginning to diverge again. Over the last two months REO sales declined while completed foreclosures leveled out. So we could see foreclosure inventory rising going forward.”
About 1.4 million homes, or 3.4% of all homes with a mortgage, were in the nation’s foreclosure inventory for June. That is down from 1.5 million in June of 2011.
More questions we can help you, at County Properties, 25 years of brokerage experience, trust and a Member of the local Better Business Bureau!
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If you do not have enough equity, and you must sell your property as a short sale we have the expertise to do so also, go to www.ShortSaleRealtors4U.com
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Santa Ana, Calif,-based CoreLogic says the drop in completed foreclosures is good news, but other issues in the housing market remain.
“The decline in the flow of completed foreclosures to pre-financial crisis levels is more welcome news pointing to an emerging housing market recovery,” said Anand Nallathambi, president and CEO of CoreLogic. “However, we believe even more can be done to reduce the inventory of foreclosures by decreasing the level of regulatory uncertainty and expanding alternatives to foreclosure.”
Mark Fleming, chief economist for CoreLogic, said, “While completed foreclosures and real-estate owned (REO) sales virtually offset each other over the past four months, producing static levels of foreclosure inventory for most of this year, they are beginning to diverge again. Over the last two months REO sales declined while completed foreclosures leveled out. So we could see foreclosure inventory rising going forward.”
About 1.4 million homes, or 3.4% of all homes with a mortgage, were in the nation’s foreclosure inventory for June. That is down from 1.5 million in June of 2011.
More questions we can help you, at County Properties, 25 years of brokerage experience, trust and a Member of the local Better Business Bureau!
If you have equity in your home, we will sell your home and get top dollar in this challenging market with our Internet Marketing and Sales Program or click Want to know what your home is worth? .
If you do not have enough equity, and you must sell your property as a short sale we have the expertise to do so also, go to www.ShortSaleRealtors4U.com
New Pro-Property Search. We will setup a customized search for you by our professional REALTOR® Team. Sit back relax and shop at home! We will make changes to your Pro-Property Search any time you like, just let us know. Have fun!
Want to know what your home is worth?
[iframe http://tools.1parkplace.com/valueWizard/vluredirect.aspx?userid=47042 780 1100]
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