Foreclosure Inventory Declined in December: CoreLogic

Foreclosures nationwide continued to decrease in December, according to CoreLogic.

The national foreclosure inventory fell 23.8% to about 433,000 in December, or about 1.1% of all homes, compared to a year ago, according to CoreLogic's National Foreclosure Report. It's the lowest level since November 2007.

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."