Dive Brief:
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Fewer homes were in foreclosure in September than in August, CoreLogic’s National Foreclosure Report revealed on Wednesday.
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In September, 607,000 U.S. homes were in the foreclosure process, down from 525,000 in August and down from 924,000 in September 2013—a 34.3% decrease. This marked the 35th consecutive month of year-over-year declines, the report said.
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Still, the number of completed foreclosures in September was slightly higher than in August, but still lower than this time last year.
Dive Insight:
Although the number of “serious delinquencies” has declined over the past few years, “the pace of improvement is beginning to recede,” Sam Khater, the organization’s deputy chief economist, wrote in the report. For example, CoreLogic reported in June that serious delinquencies were down 25% from the year before. But by September, serious delinquencies were 21% lower.