According to information provided by CoreLogic, Florida had the highest number of completed foreclosures for the month of June in the U.S.A. The state’s foreclosure inventory dropped by 25.9 percent during the month while the number of completed foreclosures declined by 4.9 percent compared with the same time period last year. Completed foreclosures decreased nationwide from 40,000 in June 2015 to June 2016 to 38,000, a decrease of 67.5 percent from the peak of 117,835 in September 2010. The foreclosure inventory represents the number of homes at some stage of the foreclosure process, and completed foreclosures reflect the total number of homes lost to foreclosure. The five states with the highest number of completed foreclosures in the 12 months ending in June were Florida (60,000), Michigan (47,000), Texas (27,000), Ohio (23,000) and California (22,000). These five states accounted for almost 40 percent of all completed foreclosures nationally.
“The impact of the inexorable reduction over the past several years in both foreclosure trends and serious delinquencies is driving the long-awaited return to more historic norms for the U.S. housing market,” said Anand Nallathambi, president and CEO of CoreLogic, in a written statement. “We expect the combination of continued home price appreciation of more than 5 percent and rising employment levels in the year ahead will help cement the gains we have had and perhaps accelerate them.”
