Foreclosure Inventory by State Map

click for larger map

Here is CoreLogic’s key data points:

• The five states with the highest number of completed foreclosures for the 12 months
ending in August 2012 were: California (110,000), Florida (92,000), Michigan
(62,000), Texas (58,000) and Georgia (55,000). These five states account for 48.1
percent of all completed foreclosures nationally.

• The five states with the highest foreclosure inventory as a percentage of all
mortgaged homes were: Florida (11.0 percent), New Jersey (6.5 percent), New York
(5.2 percent), Illinois (4.8 percent) and Nevada (4.6 percent).

• Overall, Foreclosure Inventory Declines to Lowest Level Since April 2010

We know why foreclosure inventory is still falling (as of August). Te combination of foreclosure abatements and private equity (and other) investor purchases are skimming the cream off of the top.

What is interesting is where these are concentrated in — I’m a sucker for a good map.

 

Source:
National Foreclosure Report: Foreclosure Inventory Declines to Lowest Level Since April 2010
CoreLogic, October 4, 2012
http://www.corelogic.com/about-us/researchtrends/asset_upload_file628_16697.pdf

Category: Digital Media, Foreclosures, Real Estate

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

8 Responses to “Foreclosure Inventory Levels Still Declining”

  1. mathman says:

    Are you kiddin’? There’s building goin’ on around me once again. i just read in the paper last weekend that some 5 home development is gonna go forward right up the street from me out here in the western Philly burbs (the edge of Chester county). A coupla guys bought a year old derelict vacancy a few houses away from me and spent about 3 – 4 months rehabbin the whole house to rent out.

    i don’t get it, but somebody must be buyin’ ‘em – even with the new stricter mortgage policies.

  2. hawks5999 says:

    Still the absolute worst data representation to be published in a long time.
    Common sense would use a color scheme that goes from end to the other, eg. white to red.
    This map is purposely skewed to make the west coast look bad at first glance when the exact opposite is true.

  3. constantnormal says:

    … took me a few minutes to figure out what the “foreclosure rates” were … they are not a “rate” in terms of time, but rather a level of homes in foreclosure, measured as a percentage of the total housing inventory … (I think) …

    This says nothing much about the amount of distress in these various housing markets, as there could be 90% of mortgages underwater and behind on their payments, but those would not appear in this slice of the data … it is only a measure of the current level of foreclosure activity … which likely changes with the time of year and a number of other factors …

    If I have this completely wrong, someone will enlighten me, I’m sure …

  4. 10x25mm says:

    Speaking of Southern Michigan, the weird thing is that our forclosed homes are just sitting vacant without any attempt to market them. Many do not appear on Trulia or other sites that list forclosed properties; they seem to exist in reality without having any legal existance. These forclosures, which dot every neighborhood, are unkempt and targets for vandals (thieves). A significant portion of them will have to be torn down because rehabilitating tem will be uneconomical at foreseeable market prices.

    Who will bear the cost of this neglect?

  5. mappo says:

    I’m a sucker for a good map.
    Me too Barry, but that is a really, really bad map. The colors/fill patterns chosen completely and utterly fail to reflect the heirarchical nature of the data. If instead they had used the standard weather radar map progression of green-yellow-orange-red, the spatial distribution would jump out at you immediately. Instead there’s just a mash of meaningless colors and hatch lines all over the place.

  6. mathman says:

    Here’s why i don’t get it. It’s another map for comparison:

    http://www.dailymail.co.uk/news/article-2212071/How-foreclosures-ate-America-Incredible-interactive-map-shows-wave-property-repossession-past-years.html#ixzz28KEySZmh

    How foreclosures ate America: Incredible interactive map shows wave of property repossession over the past five years
    (accompanying article begins):

    A new map that illustrates foreclosure rates across the country from January 2007 to July 2012 makes uncomfortable reading for President Obama and his team who insist that Americans are better off than they were four years ago.

  7. BuildingCom says:

    Until the housing price supports and subsidies end, the housing market will remain very sick.

  8. TR says:

    Search short sales and sheriff foreclosures in your neighborhood. It may make you cry. Short Sales are soon to be foreclosures.