There were fewer U.S. foreclosures in July than a year ago, while properties in the foreclosure pipeline also fell as the housing market continued to improve, according to data from CoreLogic released on Thursday.
There were 49,000 completed foreclosures last month, down from a 65,000 in July of last year, CoreLogic Inc (CLGX.N) said. There were 53,000 foreclosures in June, down from an originally reported 55,000.
Before the housing market’s downturn in 2007, completed foreclosures averaged 21,000 per month between 2000 and 2006. Since the financial crisis began in September 2008, there have been about 4.5 million foreclosures.
Foreclosures are completed when a home is either seized by the lender or sold at auction.
via Reuters
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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