Residential foreclosures were nearly flat for the Charlotte market in March, declining 0.8 of a percentage point from a year earlier, according to data firm CoreLogicInc.
CoreLogic (NYSE:CLGX) says the foreclosure rate was 2.64 percent among outstanding mortgage loans in the Charlotte-Gastonia-Rock Hill metro area, down from the 3.44 percent rate reported for the same month in 2012.
That’s also lower than the national rate of 2.84 percent, but higher than North Carolina’s overall foreclosure rate of 1.95 percent, CoreLogic says.
And, while the percentage drop in the local foreclosure rate is low, it’s still the latest in a streak of declines, according to the Irvine, Calif.-based data firm.
The foreclosure rate in metro Charlotte was 2.73 percent among outstanding mortgage loans in February, down from the 3.50 percent rate reported for February 2012.January’s rate was 2.81 percent among outstanding mortgage loans, down 0.7 of a percentage point from the 3.51 percent rate year-over-year. And in December, it was 2.80 percent, down from the 3.37 percent rate reported for the same month in 2011, according to the data firm.
The latest report shows 5.86 percent of the outstanding mortgage loans in the Charlotte area were 90 or more days delinquent in March, down from 6.91 percent recorded a year earlier. That includes properties that are in the foreclosure process or have been seized by lenders.
CoreLogic’s most recent data for home prices in the Charlotte area show a year-over-year increase of 7 percent in March with distressed sales — including short-sale and real estate owned transactions — factored in. Local home prices were up 10.3 percent in March from the previous year when distressed sales are excluded from the calculation.
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