Brought to you by
KIRO Radio's Tom Kelly digs deep into the Puget Sound real estate market
Real Estate

State foreclosures down, 4.4 percent in 'serious delinquency'

The number of foreclosed homes in Washington State is now down from 2.4 percent to 1.7 percent of the state's total housing stock, according to the latest report from CoreLogic, a property research company.

Approximately 18,998 completed foreclosures occurred in Washington in the past 12 months with 4.4 percent of all owners still in "serious delinquency."

The percentage is 0.5 percent less than the national average, CoreLogic reported. For the past three years, the shadow inventory has declined year-over-year and posted double-digit declines for the past 16 consecutive months as the housing market continues to heal.

Shadow inventory are properties that are either in foreclosure and have not yet been sold or homes that owners are delaying putting on the market until prices improve. Shadow inventory can create uncertainty about the best time to sell and when a local market can expect full recovery.

"Although there is good news that completed foreclosures are trending lower, the bigger news is the impressive decline in the foreclosure and shadow inventories," said Mark Fleming, chief economist for CoreLogic. "Every state has had double-digit, year-over-year declines in foreclosure inventory, which is reflected in the $70 billion decline in the shadow inventory."

Top Stories

  • Obama Lands in Seattle
    President Obama's motorcade is expected to snarl traffic in Seattle during his visit

  • Seeking a Sequel
    Danny O'Neil has 3 things things to watch for as the Seahawks start training camp

  • Attack of the Moles
    Think your lawn is pristine? If you end up like Dori Monson, you'll need a mole plan
ATTENTION COMMENTERS: We've changed our comments, but want to keep you in the conversation.
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.
comments powered by Disqus
Mortgage Calculator
Enter Your Details & Click the Calculate Button
Loan Amount $
Annual Interest Rate %
Term of Loan Years
Number of Payments
Monthly Payment $
Brought to you by

This is not a commitment to lend. Terms subject to change without notice. Applicant must qualify to receive credits. A division of Pinnacle Capital Mortgage Corp. WA CL 81395, Equal Housing Lender, MLO 70765.
Listen to the show
Hear Real Estate Today on KIRO Radio
Join Tom Kelly every Sunday at 9am on KIRO Radio to talk Puget Sound real estate.

Sign up for breaking news e-mail alerts from MyNorthwest.com
In the community
Do you know an exceptional citizen who has impacted and inspired others?
KIRO Radio and WSECU would like to recognize six oustanding citizens this year. Nominate them to be recognized and to receive a $2,000 charitable grant.