IRVINE, Calif.—The number of foreclosures continues to decline. Data released by CoreLogic as part of its National Foreclosure Report shows that during August there were 45,000 completed foreclosures nationally, down from 58,000 in August 2013, a year-over-year decrease of 22.2%.
On a month-over-month basis, completed foreclosures were up slightly by 1.1% from the 44,000 the company said, adding that 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. Since the financial crisis began in September 2008, there have been approximately 5.2 million completed foreclosures in the U.S., CoreLogic said.
As of August 2014, approximately 629,000 homes nationally were in some stage of foreclosure, known as the foreclosure inventory, compared to 936,000 in August 2013, a year-over-year decrease of 32%. The foreclosure inventory as of August 2014 made up 1.6% of all homes with a mortgage, compared to 2.4% in August 2013. The foreclosure inventory was down 2.6% from July 2014, representing 34 months of consecutive year-over-year declines.