Foreclosure rate drops in Charleston region, report says
The foreclosure rate for the Charleston metro region continues to recede, according to a new report.
For the month of August, 2.71 percent of homes were in the region were in some form of foreclosure in the region, down from 1.11 percent from the same month a year ago, according to real estate information firm CoreLogic.
Charleston region’s foreclosure rate for August outpaced South Carolina’s 2.44 percent rate and the 2.36 percent national average, the agency reported.
Also, CoreLogic reported 5.15 percent of mortgage loans were 90 days or more in arrears in August, down 1.44 percentage points from the same month a year earlier.
The region’s rate for August was lower than the 5.30 percent U.S. rate, but higher than the 5.0 percent rate for the state, according to the firm.
Reach Tyrone Richardson at 843-937-5550 and follow him on Twitter @tyrichardsonPC.