“Although there is good news that completed foreclosures are trending lower, the bigger news is the impressive decline in the foreclosure and shadow inventories,” says Dr. Mark Fleming, chief economist for CoreLogic. “Every state has had double-digit, year-over-year declines in foreclosure inventory, which is reflected in the $70 billion decline in the shadow inventory.”
“The stock of seriously delinquent homes and the foreclosure rate are back to levels last seen in the final quarter of 2008,” adds Anand Nallathambi, president and CEO of CoreLogic. “The shadow inventory has also declined year over year for the past three years as the housing market continues to heal, including double-digit declines for the past 16 consecutive months.”
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