Are Foreclosures Increasing Or Decreasing

Dated: 05/18/2016

Views: 252

Are Foreclosures Increasing or Decreasing?

20160518-Share-STM

Recently, there has been a lot of talk about the size of the foreclosure inventory in the nation. There has been some speculation that distressed property inventories are about to skyrocket. Today, we want to reveal what is actually taking place in this segment of the housing market.

CoreLogic, in their most recent National Foreclosure Report, reported that foreclosure inventory has decreased by 23.2% since this time last year. The report also showed that foreclosure inventory has decreased in 49 of the 50 states and that 45 states have posted a year-over-year, double-digit decline (see chart below).

Are Foreclosures Increasing or Decreasing? | Simplifying The Market

Other findings in the report:

  • The Seriously Delinquent Rate (homeowners more than 90 days behind in their mortgage payment) is 3.1% which is the lowest level since November 2007

  • The Foreclosure Rate is 1.1% which is also the lowest level since November 2007

  • This was the 53rd consecutive month that showed a decline in the Foreclosure Rate

Bottom Line

Though foreclosures do remain in the market, the number is dramatically decreasing. The fact that mortgage delinquency rates are also decreasing means the worst of the foreclosure crisis is in the rear view mirror.

Call one of our expert professionals here at eXp Realty to help you with you Real Estate needs!  Have a great day!

Latest Blog Posts

COMING SOON

'COMING SOON!" Very well cared for home in fantastic condition! 5 bedrooms, 3 baths, 2 car attached garage. It a great location, close to shopping & schools. Central A/C, Sprinkler system,

Read More

Happy Thanksgiving From Exp Realty Of Wyoming

"TO ALL YOU! FROM ALL OF US!" Here at eXp Realty of Wyoming! We are so Thankful for you! We hope you enjoy your family & friends & God Bless each & everyone of you!#loveourclients #exprealty

Read More

How To Sell Your Home In The Winter

Tips For Selling a Home In The WinterIf the weather is getting colder and you need to get your home sold, consider the following advice to make the process easier and more efficient. Use these

Read More

6353 Osage Ave

Seller says sell! $10,000.00 price reduction! Located in desirable north Cheyenne! Walking distance to schools! Close to everything shopping! Chef's delight kitchen, bonus includes a tv, dining

Read More