The housing market continues to heal with the number of completed foreclosures declining 29 percent year-over-year in November.  Still, there were more than 46,000 completed foreclosures during November. That is still more than double the normal rate of foreclosures. In the pre-bubble days between 2000 and 2006, foreclosures averaged 21,000 a month.

However, the pace of foreclosures has been declining rapidly. Foreclosures were down 8 percent from the previous month. About 812,000 homes were in some stage of foreclosure, down 29 percent from a year earlier.