CoreLogic’s most recent National Foreclosure Report shows 63,000 foreclosures were completed in May, down from 77,000 a year ago and 27 percent below their peak in 2010. Mark Fleming, CoreLogic’s chief economist, said there have been more than 819,000 completed foreclosures over the past year or an average of 2,440 foreclosures completed each day. But though the number of completed foreclosures is dropping, the overall level remains high. There have been nearly 3.6 million foreclosures completed across the country since the financial crisis began in 2008. Still, the national foreclosure inventory holds steady at around 1.4 million homes. Also, the report says the five states with the highest number of completed foreclosures over the past year account for nearly 50 percent of the national total. More here and here.
