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Foreclosure rate in St Louis decreases in June from month before but still up from a year ago

St. Louis REALTOR, Dennis Norman foreclosures

The St Louis foreclosure rates was 1.62 percent for June 2011, down from 1.71 percent the month before and up from June 2010 when the rate was 1.44 percent, according to a newly released data from CoreLogic. As usual, the St Louis foreclosure rate is significantly lower than the national foreclosure rate, which was 3.46 percent for June 2011.

Other good news in the report is that the St Louis mortgage delinquency rate has decreased as well dropping to 4.63 percent in June 2011 down from 5.25 percent for the same period last year. As long as mortgage delinquencies continue to decline we will see a decline in the foreclosure rate and, ultimately, the number of REO’s (banked owned real estate) which will help us crawl our way toward a recovery of the housing market. It will be a long slow process, but at least things appear to be headed the right direction in St Louis for now.

Location 90+ Day Delinquency Rate June 2011 90+ Day Delinquency Rate June 2010 Percentage Point Change in 90+ Day Delinquency Rate Foreclosure Rate June 2011 Foreclosure Rate June 2010 Percentage Point Change in Foreclosure Rate
Missouri 4.35% 4.87% -0.52% 1.40% 1.23% 0.17%
St. Louis, MO 4.63% 5.25% -0.62% 1.62% 1.44% 0.18%
US 7.22% 7.97% -0.75% 3.46% 3.12% 0.34%

Source: CoreLogic.

St. Louis, MO 90+ Day Delinquency Rate Foreclosure Rate
June 2011 4.63% 1.62%
May 2011 4.68% 1.62%
April 2011 4.72% 1.66%
March 2011 4.82% 1.71%
February 2011 5.08% 1.76%
January 2011 5.15% 1.77%
December 2010 5.11% 1.76%
November 2010 5.13% 1.67%
October 2010 5.13% 1.56%
September 2010 5.17% 1.57%
August 2010 5.17% 1.53%
July 2010 5.19% 1.48%
June 2010 5.25% 1.44%
May 2010 5.38% 1.44%
April 2010 5.45% 1.42%
March 2010 5.63% 1.42%
February 2010 5.86% 1.41%
January 2010 5.90% 1.40%
December 2009 5.74% 1.34%
November 2009 5.61% 1.32%
October 2009 5.37% 1.31%
September 2009 5.12% 1.25%
August 2009 4.79% 1.21%
July 2009 4.48% 1.17%
June 2009 4.37% 1.15%
May 2009 4.26% 1.11%
April 2009 4.12% 1.11%
March 2009 4.05% 1.07%
February 2009 4.13% 0.99%
January 2009 4.05% 0.97%

Source: CoreLogic.

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