Great news for buyers! CoreLogic's most recent National Foreclosure Report shows this July's foreclosure rate was the lowest the US has seen since December 2007. Compared to July 2014, the number of foreclosures decreased from 50,000 to 38,000. Prior to the housing market bust in 2007, foreclosures nationwide averaged at 21,000 per month, so the market is on the right track. According to CoreLogic, foreclosure rates are declining in large part due to improving economic conditions, but the housing market recovery is also due to tighter standards that were put in place post-recession. However, the main factors are clearly job market gains (which means lower unemployment) and home price appreciation. While some states are struggling more than others, the overall improvement of the housing market is good news for anyone looking to buy in the near future.