The number of foreclosed homes on the market is down sharply.
Property information and services provider, CoreLogic, says there were 52,000 completed foreclosures in the U.S. in May. That's down 27 percent from the same time a year ago.
Before the decline in the housing market in 2007, completed foreclosures averaged only 21,000 per month nationwide between 2000 and 2006.
According to the report, the five states with the highest foreclosure inventory are Florida, New Jersey, New York, Maine and Connecticut.