Show-Me State foreclosures drop nearly 17 percent

For the 12 months ended July 30, Missourians recorded 11,601 foreclosures, a 16.6 percent drop compared to 13,905 in the same period a year earlier.

At the end of the month, 0.6 percent of Show-Me State homes were in some stage of the foreclosure process, according to a news release issued today by real estate market tracker CoreLogic.

Missouri’s serious delinquency rate - representing mortgages that are at least 90 days past due - was 2.6 percent as of July 31, a 0.5 percent decrease from the same month of 2014.

In the U.S., there were 511,175 completed foreclosures for the year ended July 31, down from 633,296 in the previous 12-month period, according to the release.

The nation’s foreclosure inventory declined to 1.2 percent during that time.

"As we enter the final months of 2015, the housing market continues to gather steam, buoyed by improving economic conditions and the release of pent-up demand for homeownership," said Anand Nallathambi, president and CEO of CoreLogic, in the release. "The recovery in the housing market is also reflected in declining delinquency and foreclosure rates which, to some degree, reflects the progressive clearing of crisis-era loans and the benefits of tighter underwriting standards over the past six years."