The national foreclosure inventory – the number of loans in the foreclosure process – fell 21.5% year over year in October 2015, to approximately 463,000 homes, or 1.2% of all homes with a mortgage, according to the latest CoreLogic Foreclosure Report.
CoreLogic analyst Molly Boesel has the data dive on this monthly analysis, and she notes that there's a ways to go reach "normal," since the pre-crisis foreclosure rate was 0.6%. Boesel writes:
Collectively, judicial foreclosure states continued to have a much higher average foreclosure rate (2 percent) in October 2015 than non-judicial states (0.6 percent). The collective foreclosure rate in non-judicial states is close to the pre-crisis rate of 0.4 percent, while the foreclosure rate in judicial states is two and a half times the pre-crisis rate of 0.8 percent. As of October 2015, judicial states had 42 percent of the nation’s outstanding mortgages but 70 percent of all loans in foreclosure.