A report released today by real estate market tracker CoreLogic (NYSE: CLGX) shows 46,000 completed foreclosures nationwide during April, a decrease of 18 percent compared to 56,000 foreclosures in the same month of 2013.
Foreclosures across the U.S. also were down slightly from 47,000 in March. Since September 2008, there have been roughly 5 million foreclosures completed nationwide, according to a CoreLogic news release.
By the end of April, some 694,000 U.S. homes were in some stage of the foreclosure process. Known as the foreclosure inventory, this figure decreased 35 percent from 1.1 million in April 2013, according to CoreLogic. The inventory represented 1.8 percent of all homes with a mortgage last month.
Sam Khater, CoreLogic's deputy chief economist, said in the release completed foreclosures totaled 599,000 during the past 12 months, the lowest level since the recession began.
"At the current pace of completed foreclosures, and given the current foreclosure inventory, it will take 14 months to move all of the foreclosed inventory through the pipeline," Khater said in the release.
During April, every state - except for New York and the District of Columbia - posted double-digit foreclosure decreases compared to the same time a year earlier. For the 12 months ended April 30, Missouri recorded 14,406 foreclosures, an 18.2 percent decrease compared to 17,616 for the 12-month period ended April 30, 2013.
"We have now registered two and a half years of continuous decreases in the number of homeowners who are in some stage of the foreclosure process. This consistent decline means fewer Americans are experiencing the distress of delinquency and default," CoreLogic President and CEO Anand Nallathambi said in the release. "The recovery may be slow, but it is steady."
The latest CoreLogic
data for Springfield listed the city's foreclosure rate at 0.48 percent in March, down from 0.82 percent in the same month of 2013.[[In-content Ad]]
