CoreLogic recently released a report that stated that 2.1% of all homes with mortgages in Massachusetts?approximately 7,851 homes?were part of the foreclosure inventory in September. This is lower than the national average which is 3.3%.
Across the U.S. the inventory of foreclosure properties has been on the decline. In September, approximately 1.4 million homes were in the national foreclosure inventory. This is a decrease in comparison with the 1.5 million in September of 2011?roughly 3.5%.
Massachusetts? current foreclosure inventory has increased slightly by .2% in comparison with 2011?s inventory.
CoreLogic CEO and president, Anand Nallathambi, said, ?The continuing downward trend in foreclosures, along with a gradual clearing of the shadow inventory are signs of stabilization and improvement in the housing. Increasingly improving market conditions and industry and government policy are allowing distressed homeowners to pursue refinancing, loan modifications or short sales rather than foreclosures.?
The 5 states with the highest volumes of completed foreclosures between September 2011 and September 2011 are:
- California ? 108,000 foreclosures
- Florida ? 92,000 foreclosures
- Texas ? 59,000 foreclosures
- Georgia ? 55,000 foreclosures
- Michigan ? 51,000 foreclosures
Together, these 5 states make up 47.7% of U.S. foreclosed properties.
Source: http://www.firstbostonrealty.com/blog/mass-has-lower-than-average-foreclosure-inventory/
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