Latest Foreclosure Statistics | HomeChoice Real Estate

66,000 completed foreclosures in April

CoreLogic today released its National Foreclosure Report for
April, which provides monthly data on completed foreclosures and
the overall foreclosure inventory. According to the report, there
were 66,000 completed foreclosures in the US in April 2012
compared to 78,000 in April 2011 and 66,000* in March 2012. Since
the start of the financial crisis in September 2008, there have
been approximately 3.6 million completed foreclosures across the
country. Completed foreclosures are an indication of the total
number of homes actually lost to foreclosure.? Approximately 1.4
million homes, or 3.4% of all homes with a mortgage, were in the
national foreclosure inventory as of April 2012 compared to 1.5
million, or 3.5%, in April 2011 and 1.4 million, or 3.4%, in
March 2012.? "There were more than 830,000 completed foreclosures
over the past year or, in other words, one completed foreclosure
for every 622 mortgaged homes," said Mark Fleming, chief
economist for CoreLogic. "Non-judicial foreclosure markets, like
Nevada, Arizona and California, completed two and a half times as
many foreclosures over the past year as judicial foreclosure
states."? "The inventory of homes in foreclosure in judicial
foreclosure states is growing, but this increase is being more
than offset by declining inventories in non-judicial states where
the processing timelines to clear a foreclosure are shorter,"
said Anand Nallathambi, chief executive officer of CoreLogic.
"Nationally the inventory of homes in foreclosure decreased 0.1%
from what it was a year ago at this time, and has leveled off
over the first four months of 2012."

Highlights as of April 2012:

-? The five states with the highest number of completed
foreclosures for the 12 months ending in April 2012 were:
California (142,000), Florida (92,000), Michigan (60,000), Texas
(58,000) and Georgia (57,000). These five states account for
48.8% of all completed foreclosures nationally.

-? The five states with the lowest number of completed
foreclosures for the 12 months ending in April 2012 were: South
Dakota (62), District of Columbia (162), North Dakota (541), West
Virginia (598) and Hawaii (601).

-? The five states with the highest foreclosure inventory as a
percentage of all mortgaged homes were: Florida (12.0%), New
Jersey (6.7%), Illinois (5.3%), Nevada (5.0%) and New York
(5.0%).

-? The five states with the lowest foreclosure inventory were:
Wyoming (0.7%), Alaska (0.8%), North Dakota (0.9%), Nebraska
(1.0%) and South Dakota (1.4%).

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