Wednesday, July 8, 2009

Foreclosure rate increases dramatically over 2008

Delinquency rates up as well:

How bad as the foreclosure situation gotten in Sarasota? Things were twice as bad in May as they were in the same month a year ago.

According to First American Core Logic, a national provider of real estate ownership data, 7.9 percent of mortgaged properties in the Sarasota-Bradenton-Venice market were in foreclosure in May. In May 2008, that rate was 4.0 percent. More...

The mortgage delinquency rate in Sarasota was 12.9 percent in May 2009. The national average is 6.5 percent.

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