Florida still led the nation with the highest number of completed foreclosures — more than 48,000 — for the 12 months ending in November. The next closest state was Michigan at 31,000, followed by Texas (25,000), Ohio (22,000) and Georgia (20,000).
These five states account for 36 percent of completed foreclosures nationally, according to data released Tuesday by CoreLogic, an analytics and data provider.
But the overall foreclosure inventory declined by 30 percent in the U.S., and completed foreclosures declined by 25.9 percent compared with November 2015, CoreLogic reported in its November 2016 National Foreclosure Report. The number of completed foreclosures nationwide decreased year over year from 35,000 in November 2015 to 26,000 in November 2016, representing a decrease of 78.2 percent from the peak of 118,339 in September 2010.
The foreclosure inventory represents the number of homes at some stage of the foreclosure process and completed foreclosures reflect the total number of homes lost to foreclosure. Since the financial crisis began in September 2008, there have been 6.5 million completed foreclosures nationally, and since homeownership rates peaked in the second quarter of 2004, there have been 8.6 million homes lost to foreclosure.
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As of November 2016, the national foreclosure inventory included approximately 325,000, or 0.8 percent, of all homes with a mortgage, compared with 465,000 homes, or 1.2 percent, in November 2015.