Foreclosure rates have dropped from last year by 18% according to CoreLogic. In November 2011 foreclosure completions hovered around 72,000 compared to November 2012 when numbers fell 23%, reaching only 55,000 foreclosure completions. Mark Fleming, chief economist for CoreLogic said, “the inventory of foreclosed properties continues to decline while the housing market demonstrates an ongoing ability to absorb the distressed sales that result from completed foreclosures.” The U.S has come a long way from pre-crisis time when the national average of foreclosures per month was approximately 21,000. More here
