On a month-over-month basis, completed foreclosures increased 3.5 percent from 50,000 in April 2013 to the May level of 52,000. This is in comparison to the averaged 21,000 per moth nationwide between 2000 and 2006. Completed foreclosures are an indication of the total number of homes actually lost to foreclosure. Since the financial crisis began in September 2008, there were 4.4 million completed foreclosures across the country.

The report states that at the end of May 2013, approximately 1 million homes in the United States were in some stage of foreclosure, known as the foreclosure inventory, compared to 1.4 million in May 2012. This represents a year-over-year decrease of 29 percent. Month-over-month, the foreclosure inventory was down 3.3 percent between April and May 2013.

The foreclosure inventory as of May 2013 represented 2.6 percent of all homes with a mortgage compared to 3.5 percent in May 2012. At the end of May 2013, there are fewer than 2.3 million mortgages, or 5.6 percent, in serious delinquency —or 90 days or more past due. The rate of these seriously delinquent mortgages is at its lowest level since December 2008 according to Mark Fleming, chief economist for CoreLogic.

He said, “Over the last year it has decreased in 42 states by double-digit figures, resulting in rapid declines in shadow inventory for the first quarter of 2013.”

Anand Nallathambi, president and chief executive officer of CoreLogic said, “Affordability, despite the rise in home prices over the past year, and consumer confidence are big contributors to these positive trends.

“We are particularly encouraged by the broad-based nature of the housing market recovery so far in 2013.”