Issue link: http://dsnews.uberflip.com/i/1020584
42 42 FORECLOSURES CONTINUE TO DROP e ongoing downhill journey of foreclosure activity continued, with starts for the month of May hitting the second-lowest total in more than 17 years, according to the latest data from Black Knight, Inc. Black Knight's First Look at mortgage performance data for May 2018 revealed a total of 44,900 foreclosure starts in May, down 8.92 percent since April and 19.53 percent year- over-year (YOY). Nationwide, only 303,000 mortgages were in active foreclosure in May, down 11,000 since April and by 118,000 year- over-year. e national foreclosure rate for May was only 0.59 percent—the lowest rate in some 15 years. A little over 2 million properties were 30 or more days past due, or in foreclosure, as of May 2018. at total was down by nearly 30,000 month-over-month, and down by 177,000 year- over-year. Assuming the current rate of decline continues, Black Knight estimated that foreclosure inventories should hit the pre- recession average (measured between 2000 and 2005) by early Q 3 2018. May also marked the fifth month in a row of declining delinquencies. e total U.S. loan delinquency rate, measuring loans that are 30 or more days past due but not yet in foreclosure, was 3.64 percent for May. at marked a month-over- month decrease of 0.84 percent, and a year-over- year change of -4.08 percent, according to Black Knight. e top five states by noncurrent percentage include Mississippi (9.49 percent, down 6.55 percent YOY), Louisiana (7.47 percent, down 13.99 percent YOY), Alabama (6.56 percent, down 7.97 percent YOY), West Virginia (6.27 percent, down 8.19 percent YOY), and Florida (6.07 percent, up 16.55 percent YOY). e bottom five states by noncurrent percent- age include Minnesota (2.29 percent, down 8.71 percent YOY), Washington (2.22 percent, down 19.99 percent YOY), North Dakota (2.21 percent, down 2.0 percent YOY), Oregon (2.12 percent, down 21.32 percent YOY), and Colorado (1.90 percent, down 10.21 percent YOY). SEASONED LEADERSHIP & A STRONG TEAM Michele DeStefano & The Madison Group 30 Agents, 3 States, 1 Result. MORE LISTINGS SOLD IN LESS TIME. Serving New Jersey, New York, And Pennsylvania. Keller Williams Village Square Realty The Madison Group 74 Godwin Ave., Ridgewood, NJ 07450 201.891.0402 Michele@MadisonGroupKW.com MadisonGroupKW.com