Foreclosure rate drops in Sarasota-Manatee

The foreclosure rate in the Sarasota-Manatee market took a slight dip in the heart of the summer, according to a new CoreLogic report.

The rate of foreclosures among outstanding mortgage loans in the North Port-Sarasota-Bradenton in July, the data firm reports, was 1.29%. That's a drop of .80 percentage points compared to July 2015, when the rate was 2.09%.

Foreclosure activity in North Port-Sarasota-Bradenton, however, was higher than the national foreclosure rate, which was 0.93% for July.

The mortgage delinquency rate also decreased for the region: According to CoreLogic data for July 2016, 2.94% of mortgage loans were 90 days or more delinquent in July, compared with 4.43% for the same period last year, which represents a decrease of 1.49 percentage points.