Newspaper article Sarasota Herald Tribune

Local Foreclosure Rates Fall by Half over Year

Newspaper article Sarasota Herald Tribune

Local Foreclosure Rates Fall by Half over Year

Article excerpt

HOUSING MARKET

Foreclosure rates in Southwest Florida have tumbled to half their levels from a year ago.

But they remain among the top one-fifth in the country.

The rate of foreclosures among outstanding mortgages in the Sarasota-Manatee region fell to 1.46 percent in April from 2.93 percent a year earlier, data provider CoreLogic reported Tuesday.

The foreclosure rate in Charlotte County dropped to 1.38 percent from 2.81 percent in the same period in 2015.

That marks eight consecutive months for Sarasota-Manatee and six months for Charlotte with foreclosure rates under 2 percent.

But even with those improvements, Sarasota-Manatee reported the 70th-highest foreclosure rate, and Charlotte the 77th, among the more than 400 U.S. metro areas analyzed.

Florida posted the nation's fourth-highest foreclosure rate, at 1.95 percent, but that was down from 3.09 percent in April 2015, CoreLogic said. The Sunshine State has led the foreclosure rolls for much of the past seven years. …

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