More foreclosure fodder: Rate rose as government gamboled

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FEBRUARY 04, 2010

Here's some more context to the foreclosure mess. Notice how the default rate advanced as the year progressed, seemingly unconcerned with the government's attempt to stem the tide. The rise in short sales likely accounts for the decline in REOs, homes confiscated and subsequently marketed by the banks:

Tampa-St. Petersburg-Clearwater, FL	90+ Day Delinquency Rate	Foreclosure Rate	REO Rate

December 2009	16.19%	9.56%	0.48%
November 2009	15.45%	9.14%	0.49%
October 2009	14.73%	8.75%	0.49%
September 2009	14.21%	8.45%	0.49%
August 2009	13.60%	8.23%	0.41%
July 2009	12.94%	7.96%	0.42%
June 2009	12.56%	7.72%	0.49%
May 2009	12.13%	7.47%	0.49%
April 2009	11.70%	7.14%	0.51%
March 2009	11.17%	6.76%	0.53%
February 2009	10.84%	6.32%	0.60%
January 2009	10.38%	5.98%	0.62%

Source: First American CoreLogic.

Posted by James Thorner at 12:38:35 pm on February 04, 2010 in

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