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Fewer Homes in Foreclosure, CoreLogic Reports
Thursday, January 30, 2014 6:50 AM

Although there were more than 620,000 completed foreclosures across the country in 2013, it is a significant drop from the 820,498 foreclosures in 2012. According to CoreLogic, Texas has one of the lowest home foreclosure rates in the nation. In December, less than 1 percent of the state’s homes were in foreclosure, and in Arkansas and Oklahoma, between 1 and 2 percent.  

For the month of December, there were 45,000 completed foreclosures across the country in 2013, down from 52,000 in December 2012, a year-over-year decrease of 14 percent.

As of December 2013, approximately 837,000 homes in the U.S. were in some stage of foreclosure, known as the foreclosure inventory, compared to 1.2 million in December 2012, a year-over-year decrease of 31 percent. The foreclosure inventory as of December 2013 represented 2.1 percent of all homes with a mortgage compared to 3.0 percent in December 2012. The foreclosure inventory was down 2.7 percent from November 2013 to December 2013.

Highlights as of December 2013:

  • The five states with the highest number of completed foreclosures for the 12 months ending in December 2013 were Florida (119,000), Michigan (53,000), California (39,000), Texas (39,000) and Georgia (35,000). These five states accounted for almost half of all completed foreclosures nationally.
  • The five states with the lowest number of completed foreclosures for the 12 months ending in December 2013 were District of Columbia (63), North Dakota (417), Hawaii (493), West Virginia (505) and Wyoming (759).
  • The five states with the highest foreclosure inventory as a percentage of all mortgaged homes were Florida (6.7 percent), New Jersey (6.5 percent), New York (4.9 percent), Connecticut (3.6 percent) and Maine (3.6 percent).
  • The five states with the lowest foreclosure inventory as a percentage of all mortgaged homes were Wyoming (0.4 percent), Alaska (0.5 percent), North Dakota (0.6 percent), Colorado (0.6 percent) and Nebraska (0.6 percent).