The home-foreclosure rate for the Charlotte market continued to improve in November from a year earlier, according to data firm CoreLogic Inc.
CoreLogic (NYSE:CLGX) says the foreclosure rate was 2.82 percent among outstanding mortgage loans in the Charlotte-Gastonia-Rock Hill area in November, down from the 3.38 percent rate reported for the same month in 2011.
The local rate for November 2012 is below the national average of 2.97 percent, according to CoreLogic, but is higher than North Carolina’s foreclosure rate of 2.05 percent for the month.
The report shows 6.39 percent of the outstanding mortgage loans in the Charlotte area were 90 or more days delinquent in November, down from 7.29 percent in November 2011. That includes properties that are in the foreclosure process or have been seized by lenders.
The number of borrowers with underwater mortgages — meaning they owe more than their homes are worth — in the local area has been declining as well, according to previous reports from the Santa Ana, Calif.-based data firm.
CoreLogic’s most recent data for home prices in the Charlotte area show a year-over-year increase of 4.4 percent in November with distressed sales excluded. Overall home prices for the month were up 5.1 percent.
Figures released today in Standard & Poor's Case-Shiller Home Price Index confirm that 5.1 percent jump in local housing prices in November.
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