Distressed Property Numbers are Diving.
From the most recent CoreLogic report distressed inventories have fallen by 14.4% this year. Completed foreclosures are down 20% since last year. The national foreclosure inventory is down 28% and the seriously delinquent loans, 90 days and above is down 23.7% from a year ago.
This is great news because we’re now seeing the number of distressed properties in the market falling and there are less and less people falling behind on their mortgages.
It doesn’t mean that every part of the country is doing this well. There are still some pockets where distressed properties will be an issue for at least the next 12 months, but these figures are a great sign for many throughout the US.