It’s official: completed foreclosures are officially at the lowest level since the Great Recession, and the impact is filtering into states across the nation. As completed foreclosures rise, certian states rise to the top, paving the way for its recovery.
Over the last year, foreclosures fell to 599,000, and at the current pace of completed foreclosures, and given the current foreclosure inventory, it will take 14 months to move all of the foreclosed inventory through the pipeline, Sam Khater, deputy chief economist for CoreLogic (CLGX) said.
But some markets will take longer than others to mend liquidation timelines, as readers of this list will find.
"We have now registered two and a half years of continuous decreases in the number of homeowners who are in some stage of the foreclosure process. This consistent decline means fewer Americans are experiencing the distress of delinquency and default," said Anand Nallathambi, president and CEO of CoreLogic. "The recovery may be slow, but it is steady."
So which states are benefitting from these numbers, and which states still have a ways to go before they can imagine even being on the list?
Click through the next two pages to see the top and bottom five states for completed foreclosures.