Foreclosures fell 19 percent nationwide in February compared with the same time a year earlier, according to a new report from the real estate analytics firm CoreLogic.

According to CoreLogic, there were 54,000 completed foreclosures nationwide in February 2013, down from 67,000 in February 2012.

As a basis of comparison, prior to the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006. Completed foreclosures are an indication of the total number of homes actually lost to foreclosure. Since the financial crisis began in September 2008, there have been approximately 4.2 million completed foreclosures across the country.

Approximately 1.2 million homes were in some stage of foreclosure in the U.S., known as the foreclosure inventory, as of February 2013 compared to 1.5 million in February 2012, a decrease of 21 percent. The foreclosure inventory as of February 2013 represented 2.8 percent of all homes with a mortgage compared to 3.5 percent in February 2012. This was the 16th consecutive month with a year-over-year decline. Month over month, the foreclosure inventory was down 1.8 percent from January 2013 to February 2013.

The foreclosure inventory in Massachusetts is at 1.9 percent, lower than the 2.8 percent nationwide.

"February’s 54,000 completed foreclosures is the lowest level nationally since September 2007, with most major metropolitan areas experiencing improvements," Dr. Mark Fleming, chief economist for CoreLogic, said in a statement. "Even the major Florida markets are benefiting with the foreclosure inventories falling the fastest in major metropolitan areas, although from a very high level."