Fore­clo­sures down in Oc­to­ber, sur­vey finds

Austin American-Statesman - - BUSINESS -

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.

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