Real estate market experiences 46K foreclosures in September

Real estate market tracker CoreLogic reports 46,000 completed foreclosures nationwide in September, down from 68,000 in the same month of 2013.

An indication of the total number of homes foreclosed upon, last month’s figure was up 4.7 percent from the 44,000 reported foreclosures in August. Since the financial crisis began in September 2008, approximately 5.2 million foreclosures have been completed nationwide, according to a news release.

As of Sept. 30, roughly 607,000 homes were in the U.S. foreclosure inventory, defined as those in some stage of the process. That’s down 34.3 percent from 924,000 in September 2013.

Missouri’s September foreclosure inventory was 0.6 percent, according to the release.

"The number of completed foreclosures ticked up a bit in September from the prior month and is still running above historic norms," CoreLogic President and CEO Anand Nallathambi said in the release. "Although the foreclosure inventory and rates of seriously delinquent loans remain elevated in many states, progress is being made and this bodes well for a better housing market in 2015 and beyond."

For the 12 months ended Sept. 30, Missouri experienced 12,011 completed foreclosures, down from 15,542 in the previous 12 months ending in September 2013, according to CoreLogic.