Between July 2014 and July 2015, the number of foreclosures nationwide decreased from 50,000 38,000, a decrease of 67.9 percent from the peak of 117,225 completed foreclosures in September 2010.

Since the financial crisis began in September 2008, there have been approximately 5.8 million completed foreclosures across the country, and since homeownership rates peaked in the second quarter of 2004, there have been approximately 7.8 million homes lost to foreclosure.

CoreLogic also reports that the number of mortgages in serious delinquency (defined as 90 days or more past due, including those loans in foreclosure or REO) declined by 23 percent from July 2014 to July 2015 with 1.3 million mortgages, or 3.4 percent, falling into this category. This is the lowest serious delinquency rate since December 2007.

CoreLogic chief economist Frank Nothaft credits the good news to an improved job market and a stronger real estate market.

“Job market gains and home-price appreciation help to push serious delinquency and foreclosure rates lower. The CoreLogic national HPI showed home prices in July rose 6.9 percent from a year earlier, building equity for homeowners,” Nothaft said. “Further, 2.4 million jobs were created, pushing the unemployment rate down from 6.2 percent in July 2014 to 5.3 percent this July and supporting family income growth for most owners.”

Five states with the most foreclosures between July 2014 and July 2015 made up almost half of the foreclosures nationwide. They were Florida (98,000), Michigan (47,000), Texas (33,000), California (27,000) and Georgia (27,000).