Foreclosures Down 25% from a Year Ago

There were fewer foreclosures in July than a year ago, while properties in the foreclosure pipeline also fell as the housing market continued improving, according to recent data released by CoreLogic®.

According to CoreLogic, there were 49,000 completed foreclosures in the U.S. in July 2013, down from 65,000 in July 2012, a year-over-year decrease of 25 percent. On a month-over-month basis, completed foreclosures decreased 8.6 percent from the 53,000 reported in June.

As a basis of comparison, prior to the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006. Completed foreclosures are an indication of the total number of homes actually lost to foreclosure. Since the financial crisis began in September 2008, there have been approximately 4.5 million completed foreclosures across the country.