Florida received some good news yesterday when it was announced by CoreLogic that Foreclosures in Florida had dropped in half compared to January 2014!
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today released its January 2015 National Foreclosure Report which shows that the national foreclosure inventory declined 33.2 percent and completed foreclosures declined 22.5 percent from January 2014.
“Completed foreclosures are an indication of the total number of homes actually lost to foreclosure. Since the financial crisis began in September 2008, there have been approximately 5.5 million completed foreclosures across the country, and since homeownership rates peaked in the second quarter of 2004, there have been approximately 7 million homes lost to foreclosure.”
The five states with the highest number of completed foreclosures for the 12 months ending in January 2015 were: Florida (111,000), Michigan (51,000), Texas (34,000), California (30,000) and Georgia (28,000). These five states accounted for almost half of all completed foreclosures nationally. “The foreclosure inventory continues to shrink with declines in all 50 states over the past 12 months,” said Anand Nallathambi, president and CEO of CoreLogic. “Florida, one of the hardest hit states during the foreclosure crisis, experienced a decline of almost 50 percent year over year which is outstanding news.”