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Foreclosures at lowest level since 2006

Posted on Wednesday, February 10, 2016 at 11:28:02 AM

The housing crisis recovery continues to progress. According to CoreLogic's December 2015 National Foreclosure Report, the total number of completed foreclosures declined by more than 20 percent from 2014 to 2015, making for the best year since the housing crisis began.  

Just last month, HousingWire reported that the numbers had hit an 8-year low

"Reflecting on the full-year foreclosure results for 2015, we can see that complete foreclosures are down more than 20 percent for the year, which is the lowest level since 2006, before the crisis," said Frank Nothaft, CoreLogic chief economist. "Maryland, which can be described as a suburb of the solid D.C. market, led the way with a 59 percent decline in foreclosures in 2015." 

Completed foreclosures in December were down nearly 73 percent from the peak of 117,722 recorded in September 2010. Year-over-year, completed foreclosures nationwide fell from 41,000 in December 2014 to 32,000 in December 2015, CoreLogic reported. 

In four states and the District of Columbia, homeowners saw the lowest number of completed foreclosures. The District had just 81, while North Dakota, Wyoming, West Virginia and Alaska each saw very few foreclosures on troubled residential financing.