According to a new report from CoreLogic, the state of Florida once again led the country in completed foreclosures, doubling the results of the next closest state, Texas. The recorded 54,886 foreclosures from August 2015 to 2016 in Florida. While the figures are still high, they’ve been improving strongly as the state recovers from the great recession. Last year for the same time period, Florida had over 94,000 foreclosures. The August 2016 foreclosure inventory rate is the lowest it’s been since July 2007. Rounding out the top fives states with completed foreclosures are Texas with 27,176, Ohio 23,475, California 26,435, and Georgia with 21,437.
“Foreclosure rates and serious delinquency continued to trend down in August as real estate markets across many parts of the U.S. exhibit strong demand growth and rising prices,” said Anand Nallathambi, president and CEO of CoreLogic. “With the foreclosure inventory now under 1 percent nationally, the need to boost single-family housing stocks through new construction will become more acute in the coming months and years.”
