×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: foreclosures | crisis | mortgage | seized

Completed Foreclosures Decline in May From Year Ago

Tuesday, 09 July 2013 08:06 AM EDT

Fewer U.S. foreclosures were completed in May compared with a year ago, while the number of houses in the foreclosure process also declined as the market continued to heal, data analysis firm CoreLogic said on Tuesday.

There were 52,000 foreclosures completed, well below the 71,000 in May last year, CoreLogic said. Even so, that was up from 50,000 in April 2013.

Prior to the housing market's collapse, completed foreclosures averaged 21,000 a month between 2000 and 2006. There have been approximately 4.4 million foreclosures finished since the start of the financial crisis in September 2008, the report said.

Foreclosures are completed when a home is either seized by the lender or sold at auction.

About 1 million homes were in some stage of foreclosure as of May, down from 1.4 million a year earlier. The foreclosure inventory accounts for 2.6 percent of all homes with a mortgage.

Florida had the largest number of foreclosures in the 12 months ending in May, followed by California, Michigan, Texas and Georgia. Those five states accounted for almost half of all completed foreclosures.

Florida, which was hit hard by the housing crisis, also had the highest percentage of foreclosure inventory. The top five was rounded out by New Jersey, New York, Maine and Connecticut.

© 2023 Thomson/Reuters. All rights reserved.


Economy
Fewer U.S. foreclosures were completed in May compared with a year ago, while the number of houses in the foreclosure process also declined as the market continued to heal, data analysis firm CoreLogic said on Tuesday.
foreclosures,crisis,mortgage,seized
210
2013-06-09
Tuesday, 09 July 2013 08:06 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved