66,000 foreclosures completed in April
According to CoreLogic’s National Foreclosure Report for April, 66,000 foreclosures were completed in April, virtually unchanged from March levels, but down substantially from April 2011’s 78,000 completed foreclosures. CoreLogic reports that since the housing meltdown began in September 2008, roughly 3.6 million foreclosures have been completed.
Approximately 1.4 million homes, or 3.4 percent of all homes with a mortgage, were in the national foreclosure inventory as of April 2012 compared to 1.5 million, or 3.5 percent, in April 2011 and 1.4 million, or 3.4 percent, in March 2012.
“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 percent from what it was a year ago at this time, and has leveled off over the first four months of 2012.”
Five states account for nearly half of the total
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 percent of all completed foreclosures nationally.
The five states with the highest foreclosure inventory as a percentage of all mortgaged homes were Florida (12.0 percent), New Jersey (6.7 percent), Illinois (5.3 percent), Nevada (5.0 percent) and New York (5.0 percent).
The five states with the lowest foreclosure inventory were Wyoming (0.7 percent), Alaska (0.8 percent), North Dakota (0.9 percent), Nebraska (1.0 percent) and South Dakota (1.4 percent).