Home foreclosures drop

Nationwide foreclosures of single-family homes are down, another sign of the housing market continuing its slow recovery.

There were 41,000 completed foreclosures in November, a 9.6 percent decline compared with November 2013, according to CoreLogic’s monthly report on the U.S. foreclosure market, which was released last week.

Compared with last October, U.S. foreclosures were down 12.6 percent.

About 560,000 homes were in some state of foreclosure during November, a drop of 35.5 percent year-over-year, said CoreLogic, an Irvine-based company that provides property information and analysis to the public and private sector.

California’s foreclosure rate fell .3 percent between November 2013 and November 2014, with .5 percent of its housing in some part of foreclosure.

Florida led all states, with nearly four percent of its housing stock in foreclosure, although it did manage a 3.2 drop in foreclosures compared with November 2013, according to the report.

The Inland Empire ranked eighth among major metropolitan areas, .9 percent of its housing inventory in foreclosure. The two-county region’s foreclosure rate dropped .3 percent year-over-year last November, CoreLogic stated.

In 2007, before the housing market began to decline, U.S. foreclosures averaged 21,000 per month between 2000 and 2006, according to the report.