In addition to the recent news about what appears to be a moderate recovery in Boston real estate, it seems foreclosure numbers are also down in both Massachusetts as well as nationwide. It was reported by CoreLogic that about 1.4 million real estate properties were in the national foreclosure inventory, which equates to approximately 3.4%. This is a decrease from the 3.5% (approximately 1.5 million homes) we saw a year ago.
Over 819,000 foreclosures were completed across the country in the last 12 months, which is an average 2,440 daily. Keep I mind this is still a decrease of 27% in comparison to the peak we saw in 2010 of 1.1 million?according to CoreLogic.
The states with the most foreclosures that have come to a completion in the last 12 months ending in May included Georgia, Florida, Texas, Michigan, and California. Combined, they account for almost 50% of foreclosures in the US?48.8%.
On the other hand, the five states with the least number of foreclosures for the last 12 months were Hawaii, Washington, D.C., South Dakota, North Dakota, and West Virginia.
Boston real estate fared better than a number of other real estate markets in regards to foreclosures. The foreclosure inventory was approximately 2% in Massachusetts?8,417 real estate properties. That is a decrease of .1% in comparison with a year ago.
Source: http://www.firstbostonrealty.com/blog/foreclosure-numbers-down-in-massachusetts-nationwide/
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