Foreclosures down across nation

The national real estate market experienced 41,000 foreclosures in October, a 26.4 percent decrease compared to 55,000 in the same month of 2013.

Foreclosures in October also were down 34.1 percent from September and 65 percent from a peak of completed foreclosures in September 2010, according to a news release from real estate market tracker CoreLogic.

The U.S. witnessed approximately 5.3 million completed foreclosures since the beginning of the financial crisis in September 2008. Prior to the decline of the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide 2000-06.

As of Oct. 30, roughly 605,000 homes were in the foreclosure inventory - defined as mortgages in some stages of the foreclosure process. That’s down 30.9 percent from a year ago and marks the 36th consecutive month of year-to-year declines, according to the release.

“The foreclosure inventory is less than 2 percent and seriously delinquent loans are trending lower right now,” CoreLogic President and CEO Anand Nallathambi said in the release. “At current rates, we can expect the foreclosure inventory to slip below 500,000 units during 2015.”