According to the latest CoreLogic National Foreclosure Report, “approximately 552,000 homes in the US were in some state of foreclosure as of December 2014”.
This figure is down 34.3% from the 840,000 homes in December of 2013.
December marked the 38th consecutive month in which there were year-over-year declines.
Anand Nallathambl, the President and CEO of CoreLogic, is hopeful for the future, saying:
“At current foreclosure rates, we expect to see the foreclosure inventory in the U.S. drop below 500,000 homes sometime in the first quarter of 2015 which would be another milestone in the healing of the housing market.”
Even though some states have not recovered completely from the foreclosure crisis, the nation as a whole is on the right track as inventory decreases.
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Real Estate Market in 2015: Foreclosure Inventory Down 34.3% from Last Year