The Charleston region's foreclosure rate continues to decrease.
Real estate information firm CoreLogic reported today that home loans in foreclose totaled 1.86 percent of all outstanding mortgages in the Charleston-North Charleston-Summerville area in May.
That's a decrease of 0.08 percent from April and a decrease of 1.19 percent compared to May of 2013 when the region's rate was 3.05 percent, officials reported.
The Charleston region's foreclosure rate has been continually decreasing this year, but still higher than state and national averages.
By comparison, the South Carolina and U.S. foreclosure rates averaged 1.70 percent and 1.73 percent, respectively, for May.
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