Foreclosure Inventory Fell 33.2% Year Over Year

Irvine, CA, March 11, 2015—CoreLogic's January 2015 National Foreclosure Report reveals U.S. foreclosure inventory declined 33.2% from January 2014, and completed foreclosures declined 22.5%, reports World Property Journal.

The CoreLogic report also shows there were 43,000 completed foreclosures nationwide in January 2015, down from 55,000 in January 2014 and representing a decrease of 63% from the peak of completed foreclosures in September 2010, according to World Property Journal.

Completed foreclosures have declined every month for the past 37 consecutive months. On a month-over-month basis, completed foreclosures were down 14.7% from the 37,000 reported in December 2014. As a basis of comparison, before the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006.

Since the financial crisis began in September 2008, there have been approximately 5.5 million completed foreclosures across the country, and since homeownership rates peaked in the second quarter of 2004, there have been approximately seven million homes lost to foreclosure, reports World Property Journal. Completed foreclosures are an indication of the total number of homes actually lost to foreclosure.