Foreclosures down in October, survey finds
WASHINGTON — The number of homes in foreclosure dropped in October from the previous month and was down 9 percent for the year as the housing market showed signs of improvement.
About 1.3 million homes, or 3.2 percent of all U.S. homes, were in any stage of the foreclosure process in October, down from 1.4 million homes in September, according to data released Monday by Irvine, Calif., research firm CoreLogic.
The number of completed foreclosures also dropped in October, to 58,000 from 77,000 the month before, the company said. That marked a 25 percent decrease. Completed foreclosures were down 17 percent from October 2011.
California led the nation in completed foreclosures for the 12 months ending in October, with 105,000. It was followed by Florida with 95,000; Michigan, 68,000; Texas, 59,000; and Georgia, 54,000.