Photo credit: CoreLogic
Alabama foreclosure inventory down from a year ago
Foreclosures during November dropped by 9,000 compared to the previous year, nationwide.
According to the latest report from CoreLogic, there were 26,000 completed foreclosures in the U.S. during November, a 26 percent decline from 2015. December's numbers have not been released.
"Approximately 325,000 homes in the United States were in some stage of foreclosure as of November 2016, compared to 465,000 in November 2015, a decrease of 30 percent," the report said. "This was the 61st consecutive month with a year-over-year decline. As of November 2016, foreclosure inventory represented 0.8 percent of all homes with a mortgage, compared to 1.2 percent in November 2015."
The Seriously Delinquent Rate stood at 2.5 percent during the month, the lowest number since August 2007, the report said.
The foreclosure inventory rate in Alabama was at 0.5 percent during November, a 27.6 percent decline from November 2015.
There were 8,824 completed foreclosures from November 2015 to November 2016, the report said, and the Seriously Delinquent Rate in Alabama was 3.1 percent.
Natinally, the foreclosure inventory rate was 0.8 percent during November.