Foreclosures down in NM, nationwide

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Alexander Raths

New Mexico's foreclosure inventory makes up about 2.1 percent of homes with mortgages.

Andy Beale

Digital Producer- Albuquerque Business First

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New numbers released today by CoreLogic found that the foreclosure inventory is down 34.4 percent nationwide, and foreclosures are down locally as well.

The company reports that in the 12 months ending in September, there were 2,293 completed foreclosures, compared to 3,171 completed foreclosures in the 12 months ending in September 2013. That represents a decrease of more than 27 percent.

New Mexico's foreclosure inventory makes up about 2.1 percent of homes with mortgages, a 0.6 percent decrease from last year, according to CoreLogic.

Nationally, there were 607,000 homes in some stage of foreclosure in September, down from 924,000 homes in September 2013.

Despite the significant decrease in nationwide foreclosures, they are still above pre-recession levels. CoreLogic reports there were 46,000 completed foreclosures nationwide in September of this year, significantly above the 2000-2006 average of 21,000 completed foreclosures a month.

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