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As painful as the real estate market may feel, at least half of the Gulf Coast appeared to have faired better than the rest of the state over the past four months.
According to a real estate report by the First American CoreLogic on home sales, price trends and foreclosure activity, Tampa-St. Petersburg-Clearwater and Sarasota-Bradenton-Venice real estate statistics were all better than the state average for delinquency rates, foreclosure rates and bank-owned propeties rate for May, April, March and February.
Unfortunately, the flipside is that the southern half of the region was wors than the state in at least one category over the past four months.
Lowlights of the studies include:
• Naples-Marco Island had a bank-owned rate above 1%, higher than the state average for all four months. The region also had a February rate of 11.1% for loans past due more than 90 days — higher than the state's 10.9%.
• Punta Gorda had a higher 90-day delinquency rate and foreclosure rate greater than Florida's from May to March.
• Not surprisingly, the weakest area along the Gulf Coast was the Cape Coral-Fort Myers market. The region was several percentage points ahead of the state average in all three major categories for all four months. The biggest difference was in the 90-day delinquency rate. For the most recent figure (May), the region reported a 22.3% delinquency rate compared to 15.1% for the state.
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