The foreclosure presale inventory rate rose month-over-month to 4.29% at the end of October, Lender Processing Services (LPS) reports in its ‘first look’ report. In total, the foreclosure presale inventory includes approximately 2.21 million properties – up from about 2.17 million one month earlier.
The presale inventory rate at the end of October was approximately 9.4% higher than it was the same time last year, LPS.
On top of that are roughly another 4.09 million properties that are 30 or more days past due, but not in foreclosure. These loans represent a total U.S. delinquency rate of 7.93%, LPS reports. The company will release its full October report Nov. 30.