Foreclosure inventory lowest since 2008

December 2nd, 2013

The number of homes in foreclosure continues downward.

U.S. foreclosure inventory is at a five-year low.

According to data from Loan Processing Services’ First Look mortgage report, the number of properties in some stage of foreclosure was down to 2.54 percent of all mortgaged homes in October. This was a decline of 3.23 percent when compared to September and almost a 30 percent drop in comparison to October 2012. There1.3 million homes in the inventory when the data was compiled.

The report from LPS also found that the mortgage delinquency rate is down. On a month-to-month basis, delinquent mortgages dropped 2.8 percent in October. When compared to 2012, a decline of 10.69 percent was recorded. There were about 3.2 million​ mortgages 30 or more days past due and nearly 1.3 million​ mortgages that were 90 or more days past due.

States with the highest percentage of non-current loans, which is calculated as foreclosures and delinquencies divided by the total number of active loans in a state, were:

  • Mississippi,
  • Florida,
  • New York,
  • Louisiana
  • and New Jersey.

States with the lowest percentage were:

  • Colorado,
  • South Dakota,
  • Montana,
  • North Dakota
  • and Alaska.