Missouri foreclosures drop 16%

Missouri recorded 11,219 foreclosures for the 12 months ended Nov. 30, a 16 percent decrease compared to 13,367 for the same time period a year earlier.

In November, the Show-Me State’s serious delinquency rate - defined as mortgages at least 90 days past due - was 2.5 percent. Its foreclosure inventory rate - representing the number of homes in some stage of the foreclosure process - was 0.5 percent that month, according to a news release from real estate market tracker CoreLogic.

The U.S. foreclosure inventory comprised roughly 448,000 homes, or 1.2 percent of the market, at the end of November. That’s down from 573,000 homes, or 1.5 percent, in the same month of 2014.

For the 12 months ended Nov. 30, the national foreclosure count totaled 483,335, which was 20.5 percent less than 607,826 a year earlier. The nation’s serious delinquency rate was 3.3 percent during the month, according to the release.

"While there are still pockets of areas with high foreclosure activity, 30 states have foreclosure rates below the national average, which is evidence of the solid improvement,” said Frank Nothaft, chief economist for CoreLogic, in the release.