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REPORT: Dakotas’ and Northern Plains’ Percentage of Foreclosure Homes Among Least in Nation

(NPN) – Northern Plains states—including the Dakotas—have lower home foreclosure rates than most of the nation, according to a new report.

According to CoreLogic, for the month of January 2014, there were 48,000 completed foreclosures nationally, down from 59,000 in January 2013, a year-over-year decrease of 19 percent. On a month-over-month basis, completed foreclosures were up 11.8 percent from the 43,000 reported in December 2013.

North Dakota had the second least number of judicial and non-judicial foreclosures in January and tied for second with Colorado with percentage of foreclosure homes in housing inventory.

South Dakota had 0.7 percent of its housing inventory tied up in judicial foreclosures, a decrease of 0.5 percent from year to year. Iowa was the highest in the region at 1.5 percent of housing inventory undergoing judicial foreclosure.

CoreLogic reports that Florida had both the highest percentage of foreclosure homes in inventory—6.4 percent—and the highest number of completed foreclosures in January—116,000.

Nationally, according to CoreLogic, before the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006.

The company says completed foreclosures are an indication of the total number of homes actually lost to foreclosure. Since the financial crisis began in September 2008, there have been approximately 4.9 million completed foreclosures across the country.

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