Mo. foreclosures fall through June

Completed foreclosures in the Show-Me State dropped through June.

For the 12-month period ended June 30, 11,712 foreclosures were completed, down 5 percent from 12,339 in the same time period a year ago, according to a news release.

During June, Missouri’s serious delinquency rate - referring to loans 90 or more days past due - was 2.2 percent.

Across the nation, June foreclosures totaled 38,000, a 5 percent drop from 40,000 in the same month of 2015. The U.S. serious delinquency rate improved to 2.8 percent, according to the release.

"The impact of the inexorable reduction over the past several years in both foreclosure trends and serious delinquencies is driving the long-awaited return to more historic norms for the U.S. housing market," said Anand Nallathambi, president and CEO of CoreLogic, in the release. "We expect the combination of continued home price appreciation of more than 5 percent and rising employment levels in the year ahead will help cement the gains we have had and perhaps accelerate them."

As of June 30, Missouri’s foreclosure inventory rate - the number of homes at some stage of the foreclosure process - was 0.5 percent, compared with 1 percent on the national level.