November saw home-foreclosure activity drop 23 percent from a year earlier, according to the latest report on from data firm CoreLogic Inc.
CoreLogic (NYSE:CLGX) reports 55,000 foreclosures were completed last month nationwide, down from 72,000 during November 2011.
That’s also 4,000 less than the number of foreclosures finalized in the previous month, or a decrease of 6 percent. Some 59,000 were completed in October, according to the data firm. CoreLogic revised the number upward from its report last month.
About 1.2 million homes, or 3 percent of all homes with a mortgage, were counted among the nation’s foreclosure inventory in November, according to the report. That’s down from 1.5 million homes a year ago, a decline of 3.5 percent.
"The continued fall in completed foreclosures is a positive supply-side contribution in many regions of the U.S.,"Anand Nallathambi, president and chief executive of CoreLogic, says in the report. "We still have a long way to go to return to historic norms, but this trend is firmly in the right direction."
In North Carolina, foreclosure inventory made up 2 percent of the total number of mortgages in the state in November. CoreLogic reports 27,683 foreclosures were completed in the state during the month.
The most recent figures available from CoreLogic on foreclosure activity in the local market are for October. For that month, the foreclosure rate was 2.95 percent among outstanding mortgage loans in the Charlotte-Gastonia-Rock Hill area in October, down from the 3.53 percent rate reported for the same time last year.
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