The number of completed foreclosures and the foreclosure inventory were lower in March from the same month in 2015.
Property information, analytics and data-enabled services provider CoreLogic reports completed foreclosures fell 14.9% from March 2015, and are down 69.7% from the peak in September 2010.
The foreclosure inventory, which represents the number of homes at some stage of the foreclosure process, dropped 23.2% from the same time a year ago.
On a month-over-month basis, completed foreclosures rose 9.3% from February, while inventories were down 2.2%.
Since the financial meltdown began in September 2008, there have been approximately 6.2 million completed foreclosures nationally; and since home-ownership rates peaked in the second quarter of 2004, there have been approximately 8.2 million homes lost to foreclosure.
- The five states with the highest number of completed foreclosures for the 12 months ending in March 2016 were Florida (69,000), Michigan (48,000), Texas (28,000), Georgia (23,000), and California (23,000). These five states accounted for about 41% of all completed foreclosures nationally.
- Four states and the District of Columbia had the lowest number of completed foreclosures for the 12 months ending in March 2016: The District of Columbia (114), North Dakota (311), West Virginia (541), Wyoming (634), and Alaska (644).
- Four states and the District of Columbia had the highest foreclosure inventory as a percentage of all mortgaged homes in March 2016: New Jersey (4.0%), New York (3.3%, Hawaii (2.3%), the District of Columbia (2.2%), and Florida (2.1%).
- The five states with the lowest foreclosure inventory rate in March 2016 were Alaska (0.3%), Minnesota (0.4%), Arizona (0.4%), Colorado (0.4%), and Utah (0.4%).