Housing
July Foreclosure Inventory Highest in New Jersey, New York, Florida
Published:
Last Updated:
The number of U.S. homes currently in some stage of foreclosure totals approximately 469,000, compared with 650,000 in July 2014. That represents a decline in the national foreclosure inventory of 27.9%.
The four states and the District of Columbia with the largest foreclosed inventory as a percentage of mortgaged properties are New Jersey (4.8%), New York (3.7%), Florida (2.7%), Hawaii (2.5%) and D.C. (2.4%). The five states with the lowest inventories of foreclosed properties are Alaska (0.3%), Minnesota (0.4%), Nebraska (0.4%), North Dakota (0.4%) and Utah (0.4%).
The five states with the highest number of completed foreclosures in the past 12 months were Florida (98,000), Michigan (47,000), Texas (33,000), California (27,000) and Georgia (27,000). The five states with the fewest foreclosures in the prior 12 months through July were South Dakota (33), District of Columbia (124), North Dakota (316), Wyoming (483) and West Virginia (553).
CoreLogic’s chief economist said:
Job market gains and home-price appreciation help to push serious delinquency and foreclosure rates lower.
The company’s CEO added:
The recovery in the housing market is also reflected in declining delinquency and foreclosure rates which, to some degree, reflects the progressive clearing of crisis-era loans and the benefits of tighter underwriting standards over the past six years.
ALSO READ: 8 States Running Out of Water
The five metropolitan areas with the largest inventories of foreclosed properties are New York City (3.8%), Tampa (3.4%), Orlando (2.4%), Chicago (1.8%) and Baltimore (1.7%).
According to CoreLogic, the current foreclosure rate of 1.2% is the lowest since December of 2007 and the foreclosure inventory has declined every month for the past 45 months.
Are You Still Paying With a Debit Card?
The average American spends $17,274 on debit cards a year, and it’s a HUGE mistake. First, debit cards don’t have the same fraud protections as credit cards. Once your money is gone, it’s gone. But more importantly you can actually get something back from this spending every time you swipe.
Issuers are handing out wild bonuses right now. With some you can earn up to 5% back on every purchase. That’s like getting a 5% discount on everything you buy!
Our top pick is kind of hard to imagine. Not only does it pay up to 5% back, it also includes a $200 cash back reward in the first six months, a 0% intro APR, and…. $0 annual fee. It’s quite literally free money for any one that uses a card regularly. Click here to learn more!
Flywheel Publishing has partnered with CardRatings to provide coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.