2015 marked an impressive improvement in an important measure of housing's slow recovery to a more healthy state. The CoreLogic National Foreclosure Report for December 2015 notes that there were a total of 32,000 completed foreclosures nationally, down from 41,000 last December. Too, the serious delinquency rate improved to 3.2%, its lowest level of since 2007.
Approximately 433,000 homes in the U.S. were at some stage of foreclosure in December, down 23.8% from last December's 568,000. The foreclosure inventory accounted for 1.2% of all homes with a mortgage, down 1.5% year-over-year.
"Reflecting on the full-year foreclosure results for 2015, we can see that completed foreclosures are down more than 20% for the year, which is the lowest level since 2006, before the crisis. Maryland, which can be described as a suburb of the solid D.C. market, led the way with a 59% decline in foreclosures in 2015," said Frank Nothaft, chief economist at CoreLogic, in a statement.