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Foreclosure Inventory Levels Still Declining

Posted By Barry Ritholtz On October 4, 2012 @ 2:30 pm In Digital Media,Foreclosures,Real Estate | Comments Disabled

Foreclosure Inventory by State Map

click for larger map
[1]
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 [2]
CoreLogic, October 4, 2012
http://www.corelogic.com/about-us/researchtrends/asset_upload_file628_16697.pdf


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[1] Image: http://www.ritholtz.com/blog/wp-content/uploads/2012/10/foreclosure-invesntory-map.png

[2] National Foreclosure Report: Foreclosure Inventory Declines to Lowest Level Since April 2010: http://www.ritholtz.com/blog http://www.corelogic.com/about-us/researchtrends/asset_upload_file628_16697.pdf

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