CoreLogic, "a leading provider of consumer, financial and property information, analytics and services to business and government," recently released its National Foreclosure Report, and it is nothing but good news for the real estate market.
According to the study, foreclosures have shown a 16 month steady decrease; in this past year alone, foreclosures have seen a 19% decrease nationwide.
The study also reports the five major states with the highest number of foreclosures, and Michigan weighed in as number three with 73,000. While this seems like dismal news for the state, the study also shows that the fastest decline in foreclosures is in major metropolitan areas such as Detroit.
With this information in mind, it is safe to say that the market is…