Report: Completed foreclosures falling
The national foreclosure picture continues to improve.
In February, there were 54,000 completed foreclosures in the U.S. That was down 19 percent from February 2012 and 7 percent from January, according to California-based CoreLogic.
Between 2000 and 2006, completed foreclosures — an indication of the total number of homes actually lost to foreclosure — averaged 21,000 per month.
There were about 1.2 million homes, or about 2.8 percent of all homes with a mortgage, in some stage of foreclosure in February. That was down from 1.5 million in February 2012.
Over that 12-month span, there were 743,903 completed foreclosures in the U.S. Pennsylvania ranked No. 16, with 13,239 completed foreclosures over the last year, according to CoreLogic.
The top five states for completed foreclosures were Florida with 95,000, California with 90,000, Michigan with 73,000, Texas with 57,000 and Georgia with 49,000.
Florida has the highest foreclosure inventory as a percentage of all mortgaged homes at 9.9 percent, according to CoreLogic. Pennsylvania was at 2.8 percent.
CoreLogic also listed foreclosure data for select large core-based statistical areas, or CBSAs. The Tampa-St. Petersburg-Clearwater area in Florida has the highest foreclosure inventory at 10.4 percent.
Philadelphia was the only Pennsylvania area listed. It came in at 2.7 percent with 4,179 completed foreclosures between February 2012 and February 2013, according to CoreLogic.
Baltimore-Towson is the next closest market. The foreclosure inventory was 3.4 percent with 1,830 completed forelcosures over that 12-month period.