CoreLogic: Foreclosures slow in October | Boston Homes Prime ...

As Americans have become better at paying their mortgages on time, foreclosure activity has slowed.

According to CoreLogic's National Foreclosure Report, October had 58,000 completed foreclosures, down from 77,000 in September. Last October, there were 70,000 completed foreclosures.

The national foreclosure inventory is at about 1.3 million, or 3.2 percent of all homes with a mortgage. This is down from 1.5 million in October 2011.

?A lower foreclosure inventory is a good indicator of improving housing markets,? said Anand Nallathambi, president and CEO of CoreLogic. ?The downward trend in foreclosure inventories over the past year is yet another signal that a recovery in housing is gaining traction.?

The five states with the highest amount of foreclosures in the 12 month period ending in October were California, Florida, Michigan, Texas and Georgia. Meanwhile, South Dakota, District of Columbia, Hawaii, North Dakota and Maine had the fewest amount of completed foreclosures in that same period.

Foreclosure activity could continue to decline, as the national mortgage delinquency rate fell from 5.49 to 5.41 percent from the second to third quarter, according to TransUnion.

Source: http://wickedlocalbostonhomes.com/2012/12/boston-real-estate/corelogic-foreclosures-slow-in-october/

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