Completed foreclosure dropped
precipitously in October compared to September, although they were down to a
significantly lesser extent from a year earlier. While the foreclosure crisis is no longer
front-page news, CoreLogic’s October National Foreclosure Report, released
today points out that completed foreclosures in October were nearly double the
number in more “normal” times and are a major factor inhibiting a return to
normal levels of new home construction.
the month there were 41,000 completed foreclosures nationally compared to
62,000 in September, a -34.1 percent change.
The October number was down 14,000 or 26.4 percent from a year earlier
and was 65 percent below the peak of completed foreclosures in September 2010. It was the 25th month of double
digit year-over-year declines in the
inventory of foreclosed homes.