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HOUSTON BETTER THAN THE NATIONAL AVERAGE Houston Proves It’s Better Than National Average Foreclosures are being completed at dramatic rates…and why that might not be so good. Foreclosure-report-national-corelogic-october The newest foreclosure report from CoreLogic highlights the nation’s continued efforts to push through new and long pending foreclosures, but the robust pace of completion is proving a hindrance for local homebuilders. In the 12 months prior to October 2014, foreclosures in Houston dropped by 0.3 percent, amounting to just over 8,400 homes. Unlike much of the nation, the Bayou City has managed to keep its foreclosures slow and completion at a correspondingly healthy pace. Both the city and state’s foreclosure inventory now stands at a very impressive 0.8 percent – one of the lowest around the country. Progress has been similarly impressive on a national scale with more than 41,000 foreclosures reaching completion in October, a year-over-year decline of 26.4 percent. From September 2014 to October, foreclosures were down 34.1 percent from 62,000 – a huge drop when compared to the 21,000 per month average between 2000 and 2006. The recent drop represents 25 consecutive months of year-over-year double-digit declines to the national foreclosure inventory. A National Lift Despite a handful of regional hiccups, the market is progressing at a healthy pace, and foreclosures are ebbing closer to normal, pre-crisis levels. Additional findings from CoreLogic report were: The number of homes nationally that were in some stage of foreclosure was down 30.9 percent from October 2013 to October 2014. The decline represents 36 consecutive months of year-of-year drops. The national foreclosure share fell to 1.6 percent this past October. Current foreclosure inventory levels are the lowest they’ve been since May 2008. There Is More Work To Do You can see in through the nation: huge reductions in foreclosure inventory. It sounds great, getting properties out…

Posted on December 15, 2014 by in Real Estate

HOUSTON BETTER THAN THE NATIONAL AVERAGE Houston Proves It’s Better Than National Average Foreclosures are being completed at dramatic rates…and why that might not be so good. Foreclosure-report-national-corelogic-october The newest foreclosure report from CoreLogic highlights the nation’s continued efforts to…

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