Compared with 2011, it seems Massachusetts foreclosure inventory increased by .1% in August of 2012. Approximately 2% of homes with a mortgage in August were in foreclosure inventory in August?8,039 homes. Across the US the foreclosure inventory has been decreasing?roughly 1.3 million homes were in the US foreclosure inventory in August compared with 1.4 million in August of 2011.
According to this same report, 57,000 foreclosures were completed in the US in August?a decrease from 75,000 in August of 2011. There have been roughly 3.8 million foreclosures completed in the US since the financial crisis commenced in September of 2008. Completed foreclosures represent the total number of properties that were lost as a result of foreclosure.
CoreLogic CEO and President, Anand Nallathambi, said, ?The continuing downward trend in foreclosures and a gradual clearing of the shadow inventory are important signals that the recovery in housing is gaining traction. The reduction in foreclosure volumes is to some degree being facilitated by the rising popularity of alternative resolution methods, such as short sales and loan modifications.?
The 5 states with the highest completed foreclosure numbers from August 2011 to August 2012 were:
- California ? 110,000 foreclosures
- Florida ? 92,000 foreclosures
- Michigan ? 62,000 foreclosures
- Texas ? 58,000 foreclosures
- Georgia ? 55,000 foreclosures
Together, these 5 state account for 48.1% of all foreclosures completed in the US.
Whether you?re interested in purchasing a foreclosed property or any other type of Boston real estate, contact First Boston Realty International to assist you in finding the perfect Boston home that fits your needs and your budget.
Source: http://www.firstbostonrealty.com/blog/foreclosure-inventory-up-slightly-in-august/
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