Approximately 567,000 homes were in some stage ofrnforeclosure at the end of November, down 3.3 percent from October.  This foreclosure inventory accounts for 1.5rnpercent of all homes with a mortgage, the lowest rate since March 2008.  A year earlier the inventory represented 2.2rnpercent of mortgage homes.   November was the 37^th month inrnwhich the inventory had declined on an annual basis and the 26^{th</supconsecutive month in which those percentage decreases were in double digits.  </p}

“The number of completed foreclosures over the past twelvernmonths-just under 575,000-are at the lowest level in seven years. This month’srnfigure of 41,000 foreclosures is in line with levels experienced in the secondrnhalf of 2007, which was the very beginning of the housing crisis,” said AnandrnNallathambi, president and CEO of CoreLogic. “At current foreclosure rates, wernexpect to see the foreclosure inventory in the U.S. to drop below 500,000 homesrnsometime in the first quarter of 2015 which would be another milestone in thernhealing of the housing market.” </p

All 50 states postedrndouble-digit year-over-year declines in the foreclosure inventory as well, butrnthe District of Columbia’s inventory increased by 17.8 percent.  In 35 states the inventory decline surpassedrn30 percent with the largest declines inrnFlorida (-48.1 percent) and Utah (-48.9 percent).  The highest percentages of homes in thernforeclosure process were in NewrnJersey (5.3 percent), New York (4.1 percent), Florida (3.9 percent), Hawaii (2.8rnpercent) and District of Columbia (2.4 percent).</p

Foreclosure Inventory by State</p

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