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Area Foreclosures See Decline in August
YOUNGSTOWN, Ohio -- Foreclosures in the region declined by more than a full percentage point in August from a year earlier, CoreLogic reports. The rate of foreclosures in the metropolitan area, which covers Mahoning and Trumbull counties in Ohio and Mercer County in Pennsylvania, was 3.48% in August, down from 4.61% in August 2012. CoreLogic tracks and provides financial data for the real estate market.
Despite the decrease, the local figure was higher than the national and statewide foreclosure rates, which were both 2.36% in August. Ohio’s foreclosure rate was down from 3.39% in August 2012, more than a full percentage point, while the national rate was down from 3.34%, a decrease of slightly under a full percentage point.
The delinquency rate for loans 90 or more days past due locally also improved. The delinquency rate in the Youngstown-Warren-Boardman metropolitan statistical area was 7.5% in August, down more than a point from 8.28% a year earlier.
Ohio’s 90-plus-day delinquency rate was also down a full point over the year, 7.25% in August, compared with 8.28% in August 2012. Ohio’s August rate was 5.58%, down 6.68% from a year earlier.
The nationwide 90-plus-day delinquency rate experienced a greater decline, to 5.3% in August from 6.75% in August 2015, a decrease of nearly 1.5 percentage points.
Copyright 2013 The Business Journal, Youngstown, Ohio.
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