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The average number of foreclosures in the U.S. fell last month by approximately 20% year-over year according to CoreLogic. Last year, around 68,000 homeowners completed the process while this year only 55,000 completed the process. Experts have said that while Foreclosure rates have decreased compared to past years, the considered normal amount of completed foreclosures a year is approximately 21,000 per month. The chief economist for CoreLogic, Dr. Mark Fleming said, “so far this year, distressed inventories have fallen dramatically, down 14.4%, and serious delinquencies are down 15.9%.” More here
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