CoreLogic’s latest set of data shows that our residential real estate market is becoming much stronger. The data shows that the number of people whose mortgages are at least three months late is now less than 5% and the foreclosure rate is only 1.53%. This is the lowest foreclosure rate we have seen since 2010!
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CoreLogic’s latest set of Nashville-area housing data provides another piece of evidence that we are taking tiny steps toward a healthy residential real estate market — and by extension, a stronger regional banking sector. The number of people whose mortgages are at least 90 days late dipped to 4.84 percent — more than a point below their post-recession peak — while the foreclosure rate ticked down to 1.53 percent.
The foreclosure rate is the lowest since September of 2010, while the delinquency rate is at its lowest in almost three years. Plus, there’s a lot less dark red on the map these days.