Drop In Foreclosure Inventory for January 2014

The CoreLogic National Foreclosure Report recently released its figures on the country’s foreclosure inventory, revealing yet another drop for January 2014. This makes 27 consecutive months that the foreclosure inventory has declined.

At present, the foreclosure inventory stands at approximately 790,000, as opposed to 1.2 million one year ago. Anand Nallathambi, CEO of CoreLogic, predicts progress in this area will continue as the New Year advances, despite a lag in judicial foreclosure states. Non-judicial states show a ratio of 954 mortgages for every foreclosure while the ratio in judicial states is 896 per foreclosure.

The following states ranked among the top five for completion of foreclosures in January 2014:

  • Florida               116,121
  • Michigan              52,000
  • Texas                  39,000
  • California             38,000
  • Georgia                35,000

As of December 2013, the total of these figures accounted for approximately half of the country’s foreclosures over the last 12 months.

The following states had the least foreclosures over this same time period:

  • DC                         60
  • North Dakota         427
  • Hawaii                  526
  • West Virginia        543
  • Wyoming              732

For greater insight into the current real estate market in the San Ramon Valley, contact the Zwahlen Team.