According to the National Foreclosure Report issued by Corelogic indicated that foreclosure activity improved in January 2012 compared to a year ago.
The number of completed foreclosures fell 13% year-over-year in January. This decline has been seen by many market pundits as an overall drop in default activity. Specifically, there were 69,000 completed foreclosures in January 2012, up from 65,000 in December and down from 80,000 last year.
Furthermore, our country had 1.4 million homes, or 3.3% of all homes, in foreclosure inventory during January. According to an article in Housingwire.com, "
States with the highest foreclosure rates included Florida (11.8% rate), New Jersey (6.4%), Illinois (5.3%), Nevada (5%) and New York (4.7%). States with the lowest rates include Wyoming (0.7%); Alaska (0.8%); North Dakota (0.8%); Nebraska (1.1%); and Texas (1.3%). Since the start of the downturn in September 2008, approximately 3.3 million homes have gone through the foreclosure process."
Michael Hobbs, PahRoo Appraisal & Consultancy