According 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
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