Foreclosure Inventory Fell 25% in April: CoreLogic

The number of homes in foreclosure continues to decrease, although the number of homeowners in default or in foreclosure proceedings remains higher than pre-financial-crisis levels, according to CoreLogic.

The national foreclosure inventory for April fell by 25% to 521,000 homes, compared to a year earlier, according to CoreLogic's monthly National Foreclosure Report. Completed foreclosures fell by 20% during the same period.

Completed foreclosures represent the total number of homes that have been actually lost to foreclosure, CoreLogic said.

Even so, 3.6% of homeowners had missed three or more mortgage payments or were in foreclosure proceedings, as of April. That's about twice the pre-2007 rate, CoreLogic said.