Foreclosures nationwide continued to decrease in December, according to CoreLogic.
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The number of completed foreclosures fell 22.6% to 32,000 over the same period.
The number of home loans at least 90 days past due fell 23.3% to 1.2 million, or 3.2% of all mortgages.
"The supply of distressed inventory continues to shrink rapidly," Anand Nallathambi, CoreLogic's chief executive, said in a news release.
"While this is positive for the housing market overall, it also drives a decline in the inventory of affordable for-sale homes. The lack of housing stock, particularly affordable inventory, is a growing issue and will limit a full housing recovery in the short to medium term."