September Foreclosure Inventory Down 31.1% YOY

Irvine, CA, November 8, 2016—Foreclosure inventory declined by 31.1% and completed foreclosures declined by 7.0% compared with September 2015, according to CoreLogic’s September 2016 National Foreclosure Report.

The number of completed foreclosures nationwide decreased year over year from 39,000 in September 2015 to 36,000 in September 2016, representing a decrease of 69.7% from the peak of 118,222 in September 2010.

The foreclosure inventory represents the number of homes at some stage of the foreclosure process and completed foreclosures reflect the total number of homes lost to foreclosure. Since the financial crisis began in September 2008, there have been approximately 6.4 million completed foreclosures nationally, and since homeownership rates peaked in the second quarter of 2004, there have been approximately 8.5 million homes lost to foreclosure.

As of September 2016, the national foreclosure inventory included approximately 340,000, or 0.9%, of all homes with a mortgage, compared with 493,000 homes, or 1.3%, in September 2015.

CoreLogic also reports that the number of mortgages in serious delinquency (defined as 90 days or more past due including loans in foreclosure or REO) declined by 24.8% from September 2015 to September 2016, with 1 million mortgages, or 2.6%, in serious delinquency, the lowest level since August 2007. The decline was geographically broad with decreases in serious delinquency in 48 states and the District of Columbia.