The health of Middle Tennessee's housing market continues to improve, according to research firm CoreLogic. At the end of May, just 0.38 percent of all homeowners were in foreclosure — compared to 0.56 percent statewide and 1.29 percent nationally — while the 90-day mortgage delinquency rate has dropped more than 40 basis points since the end of 2014.
Real estate data firm CoreLogic says the percentage of Nashville-area home loans that are at least 90 days behind fell in May to 3.08 percent from 3.15 percent the month before and 3.95 percent in May of 2013. If recent trends hold, the delinquency rate will be well below 3 percent by summer's end and about half its number during the peak of the Great Recession.
Similarly, CoreLogic says the Nashville MSA's foreclosure rate dipped to 0.53 percent from 0.57 percent in April and 1.02 percent a year earlier. That number peaked just under 2 percent in early 2011.
Look here, Nashville is at the top of another list.
Research firm RealtyTrac has updated its data on foreclosures around the country, and it turns out that Music City is the city where no fewer than 80 percent of foreclosed properties are still occupied by a former homeowner or tenant. Only Richmond, Va., comes close.
Nationally, foreclosures in March were down 23 percent from the year before.
"Banks will also now be able to devote more resources to dealing with the lingering inventory of nearly half a million already-foreclosed homes that still need to be sold," said Daren Blomquist, vice president at RealtyTrac. "Our estimates indicate only 10 percent of these bank-owned properties are listed for sale and more than half are still occupied by the former homeowner or tenant."
Housing research firm CoreLogic says the foreclosure rate in the Nashville area dipped to 0.69 percent in January from 0.77 percent at the end of 2013.
It's the first time foreclosures have been that low since the last days of 2008, when the recession was really beginning to sink its teeth into homeowners' finances. The rate peaked at 1.99 percent in January 2011 and stood at 1.14 percent at the beginning of 2013.
CoreLogic says the 90-day delinquency rate among local homeowners, which peaked in early 2010 at about 6 percent, retreated to 3.52 percent in January, versus 3.60 percent in December and 4.49 percent the year before. The Nashville rate is now 109 basis points lower than Tennessee's and 141 points below that of the national average.
After climbing slowly but steadily from last spring through October, the foreclosure rate in the Nashville MSA fell noticeably in late 2011, says research firm CoreLogic. December's number was 1.74 percent, which was 16 basis points below October's and 15 points lower than that of the year before.
SEE ALSO: December's foreclosures by ZIP code
RealtyTrac is out with its first-quarter comparison of the state of foreclosures across the country. The gist when it comes to Tennessee: We're foreclosing fewer homes than many other states but our sellers are having to take bigger haircuts. Only four states average greater foreclosure discounts. Check out all the info here.
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