Mortgage delinquency, foreclosure rates nearing landmark levels

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.

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CoreLogic: Area housing market still growing healthier

Real estate research firm CoreLogic says the health of the Middle Tennessee housing market improved again in March, with the share of delinquent home mortgages falling to 3.23 percent, a full point below last year's number, and foreclosures shrinking to 0.59 percent from 1.17 percent a year ago. The 90-day delinquency rate, which fell 1.05 percentage points in 2012 and another 91 basis points last year, was down 40 basis points through the first three months of this year.

SEE ALSO: Where things stood at the end of 2013

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On our still-full foreclosures

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."

Apr 10, 2014 9:01 AM

Area's delinquent mortgages end '13 below 3.6%

The 90-day delinquency rate among Nashville-area homeowners finished 2013 at 3.59 percent versus 4.54 percent in 2012 and 5.59 percent at the end of 2011, says research firm CoreLogic. The 2013 decline for Middle Tennessee was steeper than that of Tennessee as a whole but slower than the country's improvement — although the U.S. rate ended the year just above 5 percent.

The region's foreclosure rate also dropped further last year, though more slowly than in 2012. It ended 2013 at 0.77 percent versus 1.14 percent and 1.76 percent at the end of 2012 and 2011, respectively.

Lastly, here's CoreLogic's latest map depicting the health of the region's ZIP codes.

Feb 25, 2014 6:42 AM

Bad mortgage, foreclosure data still trending positive

We still don't have a much clearer idea of what the post-recession "normal" mortgage delinquency and foreclosure rates for Middle Tennessee will be. The latest data from CoreLogic shows that those numbers dipped in October to 3.65 percent and 0.78 percent, respectively. Those are down 97 and 47 basis points, respectively, from a year ago, a pace that's been remarkably consistent over the past year. (In October 2012, the year-over-year drops were 86 and 67 basis points.)

Looking at an area map, CoreLogic's data reveal that the Interstate 24 corridor and parts of Sumner County continue to gradually improve the way other parts of the region have done before them.

Dec 26, 2013 6:48 AM

Tennessee foreclosure starts back to '06 levels

The housing market in Tennessee continues to improve, says David Penn of MTSU's Business and Economic Research Center, but not as quickly as it has in recent quarters. One bright spot is that the number of distressed properties continues to trickle downward. Case in point: The number of foreclosure starts around the state in the third quarter was the lowest in seven years.

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Real estate data points: City home price forecasts, foreclosures

Looking for home price appreciation in the coming year? The researchers at Zillow.com say you need to look beyond the Nashville MSA: Only in La Vergne, Thompson's Station and White House do they see home values rising more than 1 percent. That's a big change from this year, when nine area cities posted average price increases of 7 percent or more.

Zillow's data also shows that only in Brentwood and Franklin are less than 10 percent of homeowners with a mortgage still underwater. Along those lines below is, courtesy of fellow research firm CoreLogic, the chart showing how delinquencies and foreclosures have trended down in the past 18 months.

 

Nov 27, 2013 7:34 AM