Property for sale in Orlando

Orlando foreclosure inventory shrinks in January

Central Florida had 15,053 completed foreclosures for the 12 months ending January 2015, compared to 12,437 in the year-ago period, according to CoreLogic’s January 2015 National Foreclosure Report.

Meanwhile, the Orlando properties for sale and Kissimmee-Sanford area’s foreclosure inventory was 3.2 percent, down 3.3 percentage points from the same time last year.

Completed foreclosures indicate the total number of homes actually lost to foreclosure, according to CoreLogic. Housing market health is considered a bellwether for the economy as a whole, and fewer bank repossessions indicate a stronger homeowner market.

Nationwide, there were 43,000 completed foreclosures in January 2015, down from 55,000 in January 2014 and down 63 percent from the peak of completed foreclosures in September 2010. Completed foreclosures have declined every month for the past 37 consecutive months.

“The foreclosure inventory continues to shrink with declines in all 50 states over the past 12 months,” said Anand Nallathambi, president and CEO of CoreLogic. “Florida, one of the hardest hit states during the foreclosure crisis, experienced a decline of almost 50 percent year over year, which is outstanding news.”

Other findings from the report:

• The five states with the highest number of completed foreclosures for the 12 months ending in January 2015 were: Florida (111,000), Michigan (51,000), Texas (34,000), California (30,000) and Georgia (28,000). These five states accounted for almost half of all completed foreclosures nationally.

• Four states and the District of Columbia experienced the highest foreclosure inventory as a percentage of all mortgaged homes: New Jersey (5.2 percent), New York (4.0 percent), Florida (3.5 percent), Hawaii (2.7 percent) and the District of Columbia (2.5 percent).

• The foreclosure inventory has experienced 39 months of continuous declines and year-over-year double-digit declines for 28 consecutive months