In October, there were 2.7 million serious delinquent mortgages — 90 days past due or more, including those in foreclosure or real estate owned. This is 12% lower than a year ago, and 25% below the peak in January 2010, according to CoreLogic’s December MarketPulse report.
The peak-to-current drop represented 912,000 fewer mortgages in serious delinquency.
The property analytics firm expressed a great deal of confidence on where the real estate economy for the past several months, but also noted a general sense of investor trepidation heading into the new year.
The inventory of foreclosed homes continues to fall and declined 16% since Jan. 2011 as a result of fewer mortgages entering delinquency as well as mortgages making it through the foreclosure process — completed foreclosure or foreclosure alternatives such as short sales.
Click on the chart to view overall mortgage performance from 2002 to 2012.
Non-judicial states have seen the largest year-over-year percentage decreases in foreclosure inventory .
Arizona, California and Michigan were previously among the states with the highest percent of foreclosed homes, currently have a share lower than the national average.
Click on the graph to view serious delinquencies for 25 highest rate states.
