Fewer foreclosures done in December: CoreLogic
February 2, 2013 12:42 AM EST
Lenders seized fewer U.S. homes in December, while the number of properties awaiting foreclosure also declined in a sign the housing market is working through one of its biggest challenges, data from CoreLogic showed on Friday.
There were 56,000 completed foreclosures in December, down from 58,000 the month before and 71,000 a year ago, CoreLogic
Before the housing market collapsed, monthly foreclosures averaged 21,000 between 2000 and 2006. Since the heart of the financial crisis in September 2008, there have been about 4.1 million completed foreclosures.
For the year, 767,000 foreclosures were done in 2012, down from 916,547 the year before.
About 1.2 million homes were in some stage of the foreclosure process, down from 1.5 million in December 2011. That amounts to 3 percent of all mortgaged homes.
"This big improvement indicates we are working toward resolving the backlog of the most distressed assets in the shadow inventory," Mark Fleming, chief economist for CoreLogic, said in a statement.
Florida had the highest amount of properties sitting in the foreclosure process at 10.1 percent of homes.
(Reporting by Leah Schnurr; Editing by M.D. Golan)
Most Popular Slideshows
- Prince William & Kate Middleton Caught Flirting In A Countryside Dinner Date [PHOTOS]
- Kate Middleton’s Mom Accused Of Being A Social Climber, Prince George Not Seen By Relatives
- Prince William & Kate Middleton Boards London Train in Casual Disguise, Royal Couple’s Incognito Plan A Huge Hit [PHOTOS]
- Angelina Jolie & Brad Pitt’s Top Secret Wedding Tramps Jennifer Aniston’s ‘Friends’ Reunion & Pregnancy Talks [PHOTOS]
Join the Conversation
- Tourre on stand says email in SEC case 'not accurate'
- Syrian authorities blocking access to needy in Homs - Red Cross
- Faith in European Union at low ebb, EU poll says
- Former UBS banker gets 18 months, $1 million fine, for muni bid-rigging scheme
- U.S. judge halts challenges to Detroit's bankruptcy bid
- 5.5-Inch iPhone 6 is iPhone Air on Sept 19 Release Date: 5 Things to Consider Before Buying
- Pricey iPhone 6 on Release Date Likely but with 3X Retina Resolution & Mobile Payment Service – Reports
- Nexus 6 Release Date Update: Moto X+1 Look Leaked, Nexus X or Shamu Moved to Demo Phase
- Google Nexus 8 Confirmed as HTC T1 aka Volantis/Flounder with Freshly-Leaked Specs & Features – Reports
- Europe, US Next on ISIS’ Hit List, Says Saudi King; Seized ISIS Laptop Reveals Terrifying Bio-Warfare Plans
- iPhone 6 On Release Date To Feature Qualcomm MDM9625M LTE, 1GB RAM, Mobile Payment Deal With AMEX, 1334x750 Display
- HTC One M8 for Windows Vs. Nokia Lumia Icon, The Battle Of Windows Phones