Foreclosure Inventory on Pace to Hit New Low

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A Mortgage News Daily reports, CoreLogic has found that the trend in foreclosures is a positive one for the real estate market: they’re going down.

“The number of foreclosures completed during the last 12 months is at the lowest level since November of 2007,” said Anand Nallathambi, CoreLogic’s president and CEO. “At current foreclosure rates, the shadow inventory could fall below 500,000 units by year-end which could provide a solid boost to the recovery in housing in 2015.”

From August 2013 to August 2014, the number of foreclosures dropped 22.2 percent from 58,000 to 43,000.

Image via flickr/Simon Cunningham

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