The share of Charlotte-area homes with mortgages that faced foreclosure in July remained at 0.8 percent, the same as in April, May and June, figures from the real estate data firm CoreLogic indicated.
The foreclosure inventory rate was down 0.2 percentage points from July 2014, CoreLogic reported. In North Carolina, 0.7 percent of the homes with a mortgage were in the foreclosure process in July, and that rate hasn’t changed since April, but it was 0.2 percentage points lower than in July 2014.
North Carolina’s foreclosure rate was lower than the nation’s 1.2 percent in July, according to CoreLogic.
In the Charlotte-Concord-Gastonia area mortgages that were 90 days or more past due, or seriously delinquent, in July was 2.9 percent. That was the same rate as in May and June and it was 0.9 percentage points lower than in July 2014. Nationally, 3.4 percent of homes were seriously delinquent in July, down from 4.3 percent in July 2014.
CoreLogic considers only mortgaged homes with first liens to determine its foreclosure inventory data, which covers the number of homes placed in the foreclosure process by the mortgage servicer.
There were 4,258 completed foreclosures in the Charlotte metro area for the year ending in July, down almost 38 percent from the 6,846 during the previous 12 months.
“As we enter the final months of 2015, the housing market continues to gather steam buoyed by improving economic conditions and the release of pent-up demand for homeownership,” said Anand Nallathambi, CoreLogic president and CEO, in a written statement. “The recovery in the housing market is also reflected in declining delinquency and foreclosure rates which, to some degree, reflects the progressive clearing of crisis-era loans and the benefits of tighter underwriting standards over the past six years.”
States with the highest seriously delinquent rates are New Jersey at 8.3 percent; New York, at 6.6 percent; and Florida, at 6.0 percent.