DataMarkets & Economy

DC proper and DC metro show much different foreclosure rates

Washington-Alrington-Alexandria metro's foreclosure stats much lower than DC proper's
  • Twenty-nine states had foreclosure rates below the national average.
  • There were 38,000 completed foreclosures in May 2016, according to CoreLogic – up 5.5 percent from April 2016, but down 6.9 percent year-over-year.
  • As of May 2016, Washington D.C.'s foreclosure inventory was at 2 percent, and its serious delinquency rate was 3.5 percent, both of which are higher than national averages.

Although still double the long-term average of 0.5 percent, the national foreclosure rate continued to fall to 1 percent in May, with many states seeing better outlooks than the national average in CoreLogic's May 2016 National Foreclosure Report. "Twenty-nine states had foreclosure rates below the national average, and all but North Dakota experienced declines in their foreclosure rate compared to the last year," CoreLogic Chief Economist Frank Nothaft said in a statement. There were 38,000 completed foreclosures in May 2016, according to CoreLogic -- up 5.5 percent from April 2016, but down 6.9 percent year-over-year. The seriously delinquency rate in the U.S. is also at its lowest rate in almost nine years, sitting at 2.8 percent in May. America's foreclosure rate is back to October 2007 levels, CoreLogic says. About 390,000 homes, or 1 percent of all homes with a mortgage, were at some stage of the foreclosure process in May -- a 24.5 percent decrease from Ma...