According to CoreLogic, there were 54,000 completed foreclosures in the U.S. in February 2013, down from 67,000 in February 2012, a year-over-year decrease of 19 percent. On a month-over-month basis, completed foreclosures fell from 58,000* in January 2013 to the February level of 54,000, a decrease of 7 percent.
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Highlights as of February 2013:
- The five states with the highest number of completed foreclosures for the 12 months ending in February 2013 were: Florida (95,000), California (90,000), Michigan (73,000), Texas (57,000) and Georgia (49,000). These five states account for almost half of all completed foreclosures nationally.
- The five states with the lowest number of completed foreclosures for the 12 months ending in February 2013 were: District of Columbia (96), Hawaii (469), North Dakota (482), Maine (542) and West Virginia (588).
- The five states with the highest foreclosure inventory as a percentage of all mortgaged homes were: Florida (9.9 percent), New Jersey (7.2 percent), New York (5.0 percent), Nevada (4.6 percent) and Illinois (4.5 percent).
- The five states with the lowest foreclosure inventory as a percentage of all mortgaged homes were: Wyoming (0.5 percent), Alaska (0.6 percent), North Dakota (0.7 percent), Nebraska (0.8 percent) and Montana (0.9 percent).
Per Dr. Mark Fleming, chief economist for CoreLogic:
February’s 54,000 completed foreclosures is the lowest level nationally since September 2007, with most major metropolitan areas experiencing improvements . Even the major Florida markets are benefiting with the foreclosure inventories falling the fastest in major metropolitan areas, although from a very high level.
Per Anand Nallathambi, president and CEO of CoreLogic:
We continue to see a declining trend in foreclosure activity, with major markets leading the way. The drop in delinquencies and foreclosure starts will help support a resurgence in the home purchase market this year and next.
Click here to download the full February 2013 Foreclosure Report.
