Foreclosure, Delinquency Rates Down Slightly in Metro Area
YOUNGSTOWN, Ohio – Foreclosure rates in the Youngstown-Warren-Boardman metropolitan area in December 2012 declined nearly a third of a percentage point from a year earlier, according to newly released data from CoreLogic, an economic research organization based in Irvine, Calif.
The foreclosure rate in December 2012 for the metro area was 4.37%, down from 4.68% in December 2011, a 0.31% decrease. December’s rate was up slightly from November’s 4.3% foreclosure rate.
The local foreclosure rate was higher than both the state and national rates. Ohio’s foreclosure rate was 3.06% in December, down nearly a half a percentage point from December 2011’s 3.52% rate. The national foreclosure rate was slightly lower than Ohio’s in December, 2.96%, also down nearly half a point from the U.S. rate a year earlier, 3.43%.
Locally, the percentage of mortgages 90 or more days delinquent also declined over the year, from 8.5% in the metro area in December 2011 to 8.33% in December 2012. The December rate was up slightly from November’s 8.19%.
For Ohio, the 90-plus-day delinquency rate was 6.52% in December, down from 6.95% a year earlier. The U.S. rate improved by nearly a full point over the year, from 7.28% in December 2011 to 6.4% in December 2012.
Published by The Business Journal, Youngstown, Ohio.