Sunshine State continues to lead nation in foreclosure inventory, CoreLogic says

The rate of foreclosures in Florida fell to 11.1 percent in October, a 1.3-percentage-point drop compared to the same month in 2011, according to data released today by CoreLogic. There were a total of 95,200 completed foreclosures in Florida in the 12-month period ending in October, with 31 mortgages per completed foreclosure in that time frame. Florida’s rate was substantially higher than the national rate of 3.2 percent of all homes with a mortgage being in foreclosure. “A lower foreclosure inventory is a good indicator of improving housing markets,” said Anand Nallathambi, president and CEO of CoreLogic. “The downward trend in foreclosure inventories over the past year is yet another signal that a recovery in housing is gaining traction.” — Alexander Britell