IE Business Daily Business news for the Inland Empire.
The Inland Empire’s foreclosure rate was essentially unchanged in October.
Only 0.7 percent of the region’s housing inventory was in foreclosure at the end of that month, a modest 0.2 percent drop compared with October 2014, according to data released Tuesday by CoreLogic in Irvine.
A total of 5,258 homes were foreclosed in Riverside and San Bernardino counties between October 2014 and October of this year, CoreLogic reported in its monthly analysis of local and national foreclosures.
Of those Inland Empire homes that were in foreclosure during October, only a handful were in serious delinquency, which is defined as mortgage payments 90 days or more past due.
Nationwide, the foreclosure inventory declined 21.5 percent and completed foreclosures dropped 27.1 percent year-over-year in October.
The U.S . foreclosure rate reached its peak in September 2010, when 117,543 residential properties were in some state of foreclosure.
About six million homes have been lost to foreclosure since the start of the recession in 2008, according to CoreLogic.
