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Foreclosures Down 66 Percent From Peak, but Still Twice Normal

Foreclosures during the 12 months ended on December 31 were
the lowest recorded in the U.S. over that time period since November 2007
CoreLogic said today.  The total of completed
repossessions during the period was 563,294 and December was the 34th
straight month to post a 12 month decline.

Foreclosures in December were down 7,000 units to 39,000, a 13.7
percent decline from December 2013.  This
was also a 66 percent decline from the peak of completed foreclosures in
September 2010.  Month-over-month
completed foreclosures were down 4.9 percent from the 41,000 reported in
November.  Despite the many months of
improvement in the foreclosure numbers, CoreLogic points out that completed
foreclosures averaged 21,000 per month nationwide in the years 2000 to 2006 and
since the financial crisis began in September 2008 some 5.5 million homes have
been lost to foreclosure.

 

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