U.S. foreclosures continue downward trend

Real estate market tracker CoreLogic (NYSE: CLGX) reports 45,000 completed foreclosures across the nation in July, down about 21 percent from 57,000 in the same month of 2013.

Last month's foreclosure count also dropped 8.5 percent from the revised June figure of 49,000, according to a news release.

The U.S. foreclosure inventory - defined as homes in some stage of the foreclosure process - comprised some 640,000 homes in July. The figure was down 34.4 percent from 976,000 a year earlier, and the national foreclosure inventory also decreased 3.3 percent from June, representing 33 consecutive months of declines, according to CoreLogic.

"Based on current trends, the overall foreclosure inventory could trend down to as low as 500,000 homes by year-end, which is very positive news for the housing market," CoreLogic President and CEO Anand Nallathambi said in the release. "In total, there are now 36 states with an inventory of foreclosed homes lower than the national rate of 1.7 percent."

Missouri is one of those states.

The Show-Me State's foreclosure inventory was 0.7 percent last month, down two-tenths of a point from a year earlier. For the 12 months ended July 31, there were 13,179 completed foreclosures in Missouri, down from 15,989 in July 2013, according to the release.[[In-content Ad]]