Foreclosure inventory continues to fall throughout the nation, according to a report.
Month-over-month, inventory that was in foreclosure dropped roughly 4% from April, according to Lender Processing Services, a data company tracking about 70% of all mortgages. The report showed there were approximately 1.5m homes in foreclosure inventory.
There still seems to be a lot of pre-foreclosures in the pipeline, however. The report showed that there were roughly 4.5m properties 30-days or more past due, but not in foreclosure. About 1.3m of those properties were 90+ days-past-due, the report said.
Year over year, foreclosure inventory has dropped almost 30%, according to the report.