Skip to main content

Foreclosure Lows Needed Boost to Housing! Team Thayer #realestate #housing #economy #market #news #oregon

American Flag House BHForeclosures and foreclosure inventory are definitively down. Compared to a year earlier, the foreclosure inventory nationally in August was 30 percent lower, while the actual number of completed foreclosures was down by more than 42 percent, according to CoreLogic’s August 2016 National Foreclosure Report.
In raw numbers, there were 37,000 completed foreclosures in August. A year ago, there were 64,000. The national foreclosure inventory included approximately 351,000 homes with a mortgage (about 1 percent) compared with 499,000 homes last year. The numbers made August’s foreclosure inventory rate the lowest it's been since July 2007.
CoreLogic also reported that the number of mortgages in serious delinquency (90 days or more past due, including loans in foreclosure or REO) declined by 20.6 percent from last August. The decline was geographically broad with decreases in serious delinquency in 48 states and the District of Columbia.
Over the year, Florida had twice the number of completed foreclosures (55,000) than its nearest second, Texas (27,000). Ohio, California, and Georgia also all had more than 20,000 foreclosures, and these five states made up about a third of all national foreclosures.
On the other side of the coin, the District of Columbia had the lowest number of completed foreclosures since last year, with 212. Conversely, D.C. also had the highest foreclosure inventory rate in August, almost 2 percent. Over the year, New Jersey’s 3.2 percent inventory rate led the way, followed closely by New York, with a 3 percent rate.
“Foreclosure inventory fell by 30 percent from the previous year, the largest year-over-year decline since January 2015," said Frank Nothaft, chief economist for CoreLogic. "The large decline in the distressed inventory has been one of the drivers of steady home price growth which helps Americans increase their home equity to support increased spending or cushion future economic risk."
Anand Nallathambi, president and CEO of CoreLogic, said that the downward trend in foreclosure and serious delinquency exhibit strong demand growth and rising prices."
"With the foreclosure inventory now under 1 percent nationally,” he said, “the need to boost single-family housing stocks through new construction will become more acute in the coming months and years."
Click  link Below To Find Foreclosed Homes In Oregon

Team Thayer www.teamthayer.com

Location: Eugene, OR 97401, USA

Popular posts from this blog

Grass Seed Video

Read more

When Will Bank Foreclosurews ‘Normalize’? Team Thayer #realestate #investor #housing #market #news #oregon

With much of the talk surrounding the housing market centered on “normalization” or returning to its pre-crisis state, one metric which the market is watching is the distressed sales share—the share of REO and short sales that comprise total residential home sales. For February 2016, the distressed sales share declined by 2.9 percentage points over-the-year (and 0.4 percentage points over-the month) down to 11 percent, according to  data released by CoreLogic  on Thursday. At their peak in January 2009, distressed sales accounted for nearly one-third of all residential home sales (32.4 percent) but has been declining steadily since then. By comparison, the pre-crisis share of distressed sales was typically around 2 percent; CoreLogic estimates that if the current rate of year-over-year decline continues, the distressed sales share will reach the “normal” pre-crisis level in slightly more than two years. “Prior to the housing crash, the distressed share of total...
Read more

Bankruptcy Filings Dip Even Lower! Team Thayer #realestate #housing #market #investor #News #oregon

Bankruptcy Filings Dip Lower Nationwide bankruptcy filings were 5 percent lower in October 2016 compared with a year earlier, falling even lower than last month’s reported decrease, according to October 2016 AACER bankruptcy data reported by Epiq Systems. Bankruptcy filings totaled 63,042 in October, which was an increase from September’s total of 64,614, and was approximately 2.4 percent higher than October 2015’s total of 63,042 (an increase of 1,572).  Year-to-date, there have been 656,125 bankruptcy filings nationwide for the past nine months of 2016 (about 65,613 per month), down from 2015’s year-to-date total through the end of October of 700,014 (about 70,001 per month). The average number of filings per day in October 2016 was 3,152 over 20 days, which is an increase from September’s daily average of 3,077 over 21 days. The extra filing day in September compared to October accounts for the slight increase in the number of filings in September; had October feature...
Read more