Foreclosures Fall, Delinquencies Rise Locally
YOUNGSTOWN, Ohio – Foreclosure rates in the Youngstown-Warren Boardman metropolitan area were down in September from a year earlier, CoreLogic reported.
According to the company, which provides information and analytics on residential properties, the rate of foreclosures in the metro area, which includes Mahoning and Trumbull counties in Ohio and Mercer County in Pennsylvania, was 4.53% in September, down 0.18 percentage points from 4.71% in September 2011. September’s foreclosure rate was also down from the 4.61% rate reported in August.
Despite the decrease, local foreclosure activity in September was above the national average of 3.25%, which was down from 3.52% a year earlier, and above Ohio’s average 3.29%, down from 3.49% the prior September.
Meanwhile, the mortgage delinquency rate increased in Youngstown-Warren-Boardman. In September, 8.30% of mortgages were 90 or more days past due compared with 8.26% for the same period last year, an increase of 0.04 percentage points. The September rate was also up from August’s 8.28% delinquency rate.
The local 90-day delinquency rate compared with Ohio’s 6.66% rate for the month, down from 6.72% in September 2011, and the U.S. rate of 6.69%, down from7.22% in September 2011.
Published by The Business Journal, Youngstown, Ohio.