real estate

R.I. foreclosure inventory falls slightly in March

THE FORECLOSURE INVENTORY rate fells 0.1 percentage points in Rhode Island and 0.2 percentage points in Massachusetts in March, according to CoreLogic.
Posted 4/30/13

IRVINE, Calif. – The foreclosure inventory in Rhode Island dropped slightly from March 2012 to March 2013 to 3.1 percent, CoreLogic reported Tuesday. This means that 3.1 percent of all homes with a mortgage in Rhode Island were in one aspect of the foreclosure process.

From April 2012 to March 2013, there were 1,600 completed foreclosures in the Ocean State. The number of mortgages per completed foreclosure was 78, the real estate data tracking firm reported.

Completed foreclosures are considered an indication of the total number of homes actually lost to foreclosure.

Comparatively, the foreclosure inventory in Massachusetts dropped 0.2 percentage points year over year in March to 1.9 percent.

For the 12 months ended March 2013, 4,995 foreclosures were completed in the Bay State. There were 168 mortgages per completed foreclosure during that period.

Roughly 1.1 million homes, or 2.8 percent of all homes with a mortgage, were in the national foreclosure inventory as of March 2013. This is a decline of 23 percent from the 1.5 million reported in March 2012.

Nationally, there were 734,707 completed foreclosures during the 12 months ended March 2013, a decrease of 0.7 percent from March 2012.

“For 17 consecutive months, foreclosures have declined year over year across the U.S.,” Anand Nallathambi, president and CEO of CoreLogic, said in prepared remarks. “Although we still have more than a million homes in some stage of foreclosure, this trend, combined with rising home prices, is another signal of a gradually improving housing market.”

PBN Hosted

Join PBN for the best networking event and party of the winter - January 15, 2015 - the Book of Lists Party at the Providence Public Library. Reserve your spot by December 31st and get a holiday gift from PBN!
  • Best Places to Work
    Enrollment is now open for the 7th annual Best Places to Work program. Winners w ...
  • Manufacturing Awards
    Applications are now being accepted for the 2nd Annual Manufacturing Awards. Dea ...
Purchase Data
Book of Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  • Purchase an e-File of the entire Book of Lists database
  • Purchase a printed copy of the Book of Lists
    Latest News