The foreclosure rate for homes in the Charleston metro area continues to drop, but the region’s rate is higher than the state and national average, according to report released today.
Real estate information firm CoreLogic reported that 3.04 percent of homes were in some form of foreclosure in the Charleston region in May, down from 3.88 percent for the same month in 2012.
The Charleston region’s foreclosure rate for May outpaced South Carolina’s 2.77 percent rate and the 2.61 national average, the agency reported.
The mortgage delinquency rate also dropped in the Charleston metro area.
According to CoreLogic data for May 2013, 5.52 percent of mortgage loans were 90 days or more delinquent, down 1.23 from May 2012. The Charleston region’s 90-day delinquency rate for May was lower than the 6.89 percent national rate, but higher than the 6.28 percent rate for South Carolina, according to the agency’s data.
Reach Tyrone Richardson at 843-937-5550 and follow him on Twitter @tyrichardsonPC.