Newspaper article Sarasota Herald Tribune

Foreclosure Rates in Region Dipping

Newspaper article Sarasota Herald Tribune

Foreclosure Rates in Region Dipping

Article excerpt

BUT FLORIDA IS NO. 1: And Southwest Florida isstill among the highest

Foreclosure rates are continuing to shrink in Southwest Florida, but they remain among the highest in the country.

The rate of foreclosures tied to outstanding mortgages in the Sarasota-Manatee region declined to 6.17 percent in October, from 6.58 percent in September and 9.98 percent a year earlier, data provider CoreLogic reported Monday.

The foreclosure rate in Charlotte County fell to 6.46 percent, from 6.72 percent the previous month and 9.94 percent in October 2012.

Despite those improvements, Charlotte had the nation's 17th- highest foreclosure rate among 410 metropolitan areas tracked. Sarasota-Manatee came in 21st.

Florida repeated with the nation's top foreclosure rate, at 6.98 percent, but that was down from 10.65 percent a year earlier.

The national rate dipped to 2.15 percent, from 3.06 percent last year, CoreLogic said.

Foreclosure rates throughout the region have trended down all year, thanks to a recovering economy, higher home values and an influx of investor buyers. …

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