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Foreclosures in May down almost 20 percent from year ago

dennis-norman-st-louis-real-estate-foreclosuresAccording to a report released today by CoreLogic, there were 63,000 completed foreclosures in the U.S. in May 2012, down from 62,000 the month before and down almost 20 percent (18.18) from May 2011. Since the real estate market meltdown began in September 2008 there have been about 3.6 million homes that had forecloses completed upon. “There were more than 819,000 completed foreclosures over the past year, or an average of 2,440 completed foreclosures every day over the last 12 months,” said Mark Fleming, chief economist for CoreLogic. “Although the level of completed foreclosures remains high, it is down 27 percent from a peak of 1.1 million in all of 2010.”

Highlights from the report for May 2012:

  • The five states with the highest number of completed foreclosures for the 12 months ending in May 2012 were: California (133,000), Florida (92,000), Michigan (60,000), Texas (58,000) and Georgia (57,000). These five states account for 48.8 percent of all completed foreclosures nationally.
  • The five states with the lowest number of completed foreclosures for the 12 months ending in May 2012 were: South Dakota (48), District of Columbia (74), North Dakota (547), West Virginia (620) and Hawaii (623).
  • The five states with the highest foreclosure inventory as a percentage of all mortgaged homes were: Florida (11.9 percent), New Jersey (6.6 percent), Illinois (5.3 percent), New York (5.0 percent) and Nevada (4.9 percent).
  • The five states with the lowest foreclosure inventory were: Wyoming (0.7 percent), Alaska (0.8 percent), North

Judicial Foreclosure States Foreclosure Ranking (Sorted by Completed Foreclosures)

Judicial Foreclosure States May-2012
Foreclosure Inventory Foreclosure Inventory Pct. Point Change from a Year Ago Completed Foreclosures (12 months ending May 2012) Number of Mortgages per Completed Foreclosure (12 month sum ending May 2012)
National 3.4% -0.1% 819,327 6481
FL 11.9% -0.6% 92,405 32
OH 3.5% 0.0% 26,832 53
IL 5.3% 0.3% 25,086 72
IN 3.3% -0.1% 15,035 56
PA 3.2% 0.7% 12,256 116
SC 3.6% 0.5% 9,504 65
LA 2.5% -0.2% 8,941 50
OK 2.7% 0.2% 8,564 45
MA 2.0% -0.1% 8,417 102
IA 2.2% 0.0% 3,844 92
NY 5.0% 0.8% 3,571 529
CT 4.6% 1.2% 3,319 144
MD 2.9% 0.1% 3,175 308
DE 2.7% -0.6% 3,107 50
KS 1.7% 0.0% 2,994 103
NE 1.0% -0.1% 2,686 81
NJ 6.6% 0.3% 2,246 542
KY 2.8% 0.2% 2,039 211
NM 3.4% 0.4% 1,829 137
ME 4.2% 0.3% 699 213
HI 4.3% 1.2% 623 273
ND 0.8% 0.1% 547 101
SD 1.3% 0.0% N/A N/A
VT 2.5% 0.3% N/A N/A

Source: CoreLogic May 2012

Non-Judicial Foreclosure States Foreclosure Ranking (sorted by Completed Foreclosures):

Non-Judicial Foreclosure States May-2012
Foreclosure Inventory Foreclosure Inventory Pct. Point Change from a Year Ago Completed Foreclosures (12 months ending May 2012) Number of Mortgages per Completed Foreclosure (12 month sum ending May 2012)
National 3.4% -0.1% 819,327 6481
CA 2.4% -0.3% 133,003 40
MI 1.9% -0.4% 59,701 23
TX 1.5% 0.1% 57,926 50
GA 2.4% -0.3% 56,701 25
AZ 2.6% -0.7% 48,571 21
NV 4.9% -1.9% 28,177 16
NC 2.5% 0.3% 26,712 49
TN 1.8% -0.1% 25,772 29
CO 1.5% -0.2% 19,289 48
MO 1.5% 0.1% 18,069 44
WA 1.8% -0.4% 16,898 68
VA 1.4% -0.1% 15,392 81
MN 1.6% -0.2% 14,068 61
WI 2.1% -0.3% 13,561 56
OR 3.2% 0.3% 10,056 61
AR 1.6% 0.0% 7,048 41
UT 1.9% 0.1% 6,963 61
AL 1.5% 0.1% 6,495 83
ID 2.5% 0.1% 5,961 39
RI 3.1% -0.2% 3,276 39
NH 1.5% -0.1% 2,927 65
MT 1.4% -0.1% 1,730 74
AK 0.8% -0.1% 959 85
MS 2.7% 0.3% 877 264
WY 0.7% -0.2% 734 97
WV 1.5% 0.0% 620 198
DC 2.4% 0.2% 74 1,233

Source: CoreLogic May 2012

Foreclosure Data for Select Large Core Based Statistical Areas (CBSAs) (sorted by Completed Foreclosures):

CBSA May-2012
Foreclosure Inventory Foreclosure Inventory Pct. Point Change from a Year Ago Completed Foreclosures (12 months ending May 2012) Number of Mortgages per Completed Foreclosures (12 month sum ending May 2012)
Atlanta-Sandy Springs-Marietta, GA 2.7% -0.3% 39,034 24
Phoenix-Mesa-Glendale, AZ 2.7% -1.0% 36,137 19
Riverside-San Bernardino-Ontario, CA 3.5% -0.5% 26,579 25
Los Angeles-Long Beach-Glendale, CA 2.5% -0.2% 22,355 53
Chicago-Joliet-Naperville, IL 6.2% 0.3% 17,031 72
Houston-Sugar Land-Baytown, TX 1.6% 0.0% 16,962 46
Warren-Troy-Farmington Hills, MI 1.7% -0.6% 13,692 31
Sacramento–Arden-Arcade–Roseville, CA 2.5% -0.4% 13,104 29
Minneapolis-St. Paul-Bloomington, MN-WI 1.8% -0.2% 12,141 50
Tampa-St. Petersburg-Clearwater, FL 12.3% 0.2% 11,994 37
Dallas-Plano-Irving, TX 1.6% 0.1% 11,586 53
Orlando-Kissimmee-Sanford, FL 12.2% -0.7% 11,300 31
Oakland-Fremont-Hayward, CA 2.2% -0.4% 10,032 43
Denver-Aurora-Broomfield, CO 1.5% -0.2% 9,668 50
St. Louis, MO-IL 1.7% 0.1% 9,524 46
San Diego-Carlsbad-San Marcos, CA 2.0% -0.2% 8,267 56
Seattle-Bellevue-Everett, WA 1.8% -0.4% 6,851 72
Washington-Arlington-Alexandria, DC-VA-MD-WV 2.1% -0.2% 6,338 127
Santa Ana-Anaheim-Irvine, CA 2.0% -0.1% 6,194 72
Portland-Vancouver-Hillsboro, OR-WA 2.7% 0.1% 5,794 67
Philadelphia, PA 3.0% 0.6% 4,057 134
Baltimore-Towson, MD 2.8% 0.3% 1,386 316
New York-White Plains-Wayne, NY-NJ 5.6% 0.4% 932 1,004
Nassau-Suffolk, NY 6.8% 0.9% 716 604
Edison-New Brunswick, NJ 5.4% 0.3% 521 689

Source: CoreLogic May 2012

Completed Foreclosures | Source: CoreLogic

Foreclosure Rates | Source: CoreLogic

CoreLogic Serious Delinquency Rates | Source: CoreLogic

1 comment to Foreclosures in May down almost 20 percent from year ago

  • Your statistics work out well with what I had expected last year, that being that foreclosures at some point had to slow down because at the rate they were going just how many more homes could there be to come up for foreclosure? It’s too bad Florida’s still in such distress, but I have to admit that I’m surprised Texas isn’t on the list and that New York is so high up on the list. Must be downstate properties since most figures I’ve seen show that upstate NY is doing well, other than Buffalo.