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TAMPA — In another sign of a slightly improving regional economy, foreclosure rates in Tampa Bay are dropping, according to a new report from the research and data firm CoreLogic.
The rate of foreclosures in Tampa, St. Petersburg and Clearwater from outstanding mortgage loans was 10.76% for December 2012, compared with 12.2% in December 2011, CoreLogic reports.
However, the foreclosure rate for Tampa Bay remains higher than the rate for Florida, and higher than the national rate. In December, Florida's foreclosure rate was 10.31%, compared with 11.94% in December 2011.
The national rate was considerably lower, 2.96% for December, compared with 3.43% in December 2011.
The mortgage delinquency rate also decreased over the same period in Tampa Bay. CoreLogic's data shows that in December, 15.54% of Tampa Bay mortgage loans were 90 days or more delinquent compared with 17.07% for the same period in 2011, a decrease of 1.53%.
The national delinquency rate was less than half of Tampa Bay's, 6.4% for December 2012, compared with 7.28% a year earlier in December.
CoreLogic (Symbol: CLGX, recent price: $25.29), based in Santa Ana, Calif., provides analytics in the U.S. and Australia. Its data comes from public records and other databases.
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