POSTED: 6:12 a.m. HST, Oct 31, 2012
Completed foreclosures in Hawaii and across the U.S. are dropping, according to a new report by Calif.-based analytical firm CoreLogic.
Hawaii was among the states with the lowest number of completed foreclosures in September -- 436. Smaller numbers were recorded only in South Dakota, at 20 and the District of Columbia, which had 58.
The five states with the highest numbers of foreclosures, California (108,000), Florida (92,000), Texas (59,000), Georgia (55,000) and Michigan, (51,000), account for 47.7 of all completed foreclosures nationally.
The number of homes lost to foreclosure in September 2012 is down 50 percent since the peak month in September 2010, and is 22 percent less than the beginning of the year.
"The continuing downward trend in foreclosures along with a gradual clearing of the shadow inventory are signs of stabilization and improvement in the housing market," said Anand Nallathambi, CoreLogic president and CEO.