Home-foreclosure activity nationwide slowed in October from a year earlier, according to the latest report on from data firm CoreLogic Inc.
CoreLogic (NYSE:CLGX) says 58,000 foreclosures were completed last month across the country, down from 70,000 during October 2011.
About 1.3 million homes, or 3.2 percent of all homes with a mortgage, were counted among the nation’s foreclosure inventory in October, according to the report. That was down from 1.5 million homes, or 3.6 percent, a year ago.
“A lower foreclosure inventory is a good indicator of improving housing markets,”Anand Nallathambi, president and chief executive of CoreLogic, says in the report. “The downward trend in foreclosure inventories over the past year is yet another signal that a recovery in housing is gaining traction.”
In North Carolina, foreclosure inventory made up 2.3 percent of the total number of mortgages in the state in October. More than 28,000 foreclosures were completed in the state during the month.
The most recent figures available on foreclosure activity in the local market are for September. For that month, the foreclosure rate for the Charlotte-Gastonia-Rock Hill metro area was 3.2 percent.
CoreLogic’s most recent data for home prices in the Charlotte area show a year-over-year increase of 2.7 percent in Septemberwith distressed sales excluded. Overall home prices for the month were up 3.9 percent.
The data firm says the housing market is clearly in recovery and is likely to boost the nation’s GDP in 2012 and 2013.
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