Are Foreclosures Increasing or Decreasing?
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).
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
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 rearview mirror.
If you are interested in buying a foreclosed property, see Tekia Greene for your Real Estate needs at 803-447-4433
Tekia Greene, Real Estate Professional with Exit Midlands Realty. Representing buyers and sellers of Real Estate with professionalism in the Columbia Northeast, Blythewood, and Elgin areas. For the latest on Real Estate throughout the midlands, contact Tekia Greene, by calling 803-447-4433
Property Search
RSS Feed
Search Blog
Recent Blogs
New Listing In Little Mountain 16 Acres - ;
Its A Great Time To List Your Home - ; &
Available Lake Murray Properties - ;
Just Listed In Park West Chapin SC 120 Pacific Avenue - 120 Pacific Avenue$192,400 
This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.
Click 'Save' to add a property to this list.New & returning visitors please enter your information to login.
This message will go directly to the head of our team.