“Large investors – those who purchased more than 101 homes – nearly doubled their activity between 2000 and 2013 but have pulled back since the foreclosure crisis and now sit at 15.8% of purchases,”.
First American CoreLogic has released its latest residential real estate analysis here. Three important graphs from the report follow in this discussion.Distres. Prices Could Fall About 30%.
The California-based data and analytics company said the rate of area foreclosures among outstanding mortgage loans was 1.80% for March, a decrease of 0.14 percentage points compared with March 2015 when the foreclosure rate was 1.94%. Nationally, the foreclosure rate was 1.09% in March, down from 1.42% a year earlier.
"Foreclosure inventory fell by 30% from the previous year, the largest year-over-year decline since January 2015," said Dr. Frank Nothaft, chief economist for CoreLogic. "The large decline in the distressed inventory has been one of the drivers of steady home price growth which helps Americans increase their home equity to support.
NEW YORK (Reuters) – Slightly more foreclosures on U.S. homes were completed in March compared to the month before, though levels were still below those seen a year ago, data analysis firm corelogic.
Treasury to Announce New Program to Avoid Foreclosure The United States Department of the Treasury is launching, with an official announcement expected next week, a new program to help ailing borrowers escape foreclosure. The Chief of the Homeowner Preservation Office at the Treasury, Laurie Maggiano, released information on the home affordable foreclosure alternatives (HAFA) while speaking at the MBA’s 96th Annual Convention going on in San Diego.
On a month-over-month basis, completed foreclosures increased by 0.3 percent to 37,000 in April 2016 from the 36,000 reported for March 2016.* As a basis of comparison, before the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006.
Year-to-date, foreclosure inventory is down by 20 percent. Currently, about 2.4 percent of homes with a mortgage are in foreclosure inventory, the lowest level since March 2009. In addition to shrinking foreclosure inventory, CoreLogic also reported steep declines in completed foreclosures and serious delinquencies.
During October 2014, there were 41,000 completed foreclosures nationally, down from 55,000 in October 2013, a year-over-year decrease of 26.4% and down 65% from the peak of completed foreclosures in September 2010, according to CoreLogic’s October national foreclosure report, which provides data on completed U.S. foreclosures and the foreclosure inventory.
CoreLogic reports that U.S. foreclosure inventory is shrinking rapidly as the real estate market continues to improve. The number of homes foreclosed upon fell more than 30% for the year ending in October and more than 25% from the previous month. CoreLogic analysts believe it is a sign of continued.
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