Recently, there has been a lot of talk about the size of the foreclosure inventory in the nation. There has been some speculation that distressed property inventories are about to skyrocket. Today, we want to reveal what is actually taking place in this segment of the housing market.
CoreLogic,in their most recentNational Foreclosure Report, reported that foreclosure inventory has decreased by 23.2% since this time last year. The report also showed that foreclosure inventory has decreased in 49 of the 50 states and that 45 states have posted a year-over-year, double-digit decline (see chart below).
Other findings in the report:
The Seriously Delinquent Rate (homeowners more than 90 days behind in their mortgage payment) is 3.1% which is the lowest level since November 2007
The Foreclosure Rate is 1.1% which is also the lowest level since November 2007
This was the 53rdconsecutive month that showed a decline in the Foreclosure Rate
Though foreclosures do remain in the market, the number is dramatically decreasing. The fact that mortgage delinquency rates are also decreasing means the worst of the foreclosure crisis is in the rearview mirror.
El Paso TX and Las Cruces NM Homes for Sale Luis F Navarro and Ana Maria Navarro Team, Real Estate agents in Exit West Realty El Paso TX. Luis specializes incommercialandresidencial propertiesinEl Paso TXand Ana Maria Navarro with license also in New Mexico specializing in Las Cruces, Anthony, Santa Teresa, Sunland Park. Whether you are searching for your personal residence, an income orcommercial property, or you areintroducing your home to the marketplace; our team can help make your real estate dream a reality. We are bilingual and can help you find the property of your needs either in English or Spanish. If you have any questions regarding El Paso TX or Las Cruces NM Homes for Sale call us today. Luis F Navarro (915) 731-4545 and Ana Maria Navarro (915) 820-8484