The national inventory of foreclosed homes and total completed foreclosures both fell in July, on a yearly basis, according to CoreLogic.
The foreclosure inventory fell 27.9% in July, compared to a year earlier, according to CoreLogic's July
The total number of foreclosures nationwide fell 67.9% to 38,000 in July. Total foreclosures, on a monthly basis, peaked in September 2010 at 117,225.
Additionally, the number of mortgages classified as seriously delinquent fell 23% to 1.3 million. Seriously delinquent loans are those at least 90 days late, or loans in foreclosure or REO status.
"Job market gains and home-price appreciation helped to push serious delinquency and foreclosure rates lower," Frank Nothaft, CoreLogic's chief economist, said in a Tuesday news release.
"The housing market continues to gather steam buoyed by improving economic conditions and the release of pent-up demand for homeownership," CoreLogic CEO Anand Nallathambi said in the release.
The five states with the highest number of completed foreclosures in July were Florida at 98,000, Michigan at 47,000, Texas at 33,000, California at 27,000 and Georgia at 27,000.
The five lowest states for foreclosures were South Dakota, the District of Columbia, North Dakota, Wyoming and West Virginia.
