St Louis Real Estate – Foreclosure Rates in St Louis Increase Again

Dennis Norman

Dennis Norman

In spite of what is being said in the press about the real estate market improving and the effectiveness of the government’s programs to help keep people in their homes, the rate of foreclosure just keeps increasing.

A report released today by First American CoreLogic  showed the St. Louis metro area to have a foreclosure rate of 1.43 percent up slightly from November’s rate of 1.35 percent and an increase of 66.67 percent from the year prior when the rate was 0.87 percent.

firstamerican corelogic

The national foreclosure rate for December was again over double the rate of St. Louis at 3.16 percent and was an increase of 82.6 percent from a year ago when the national foreclosure rate was 1.73 percent.
From new data on mortgage delinquencies, it appears we are going to continue to see the St. Louis foreclosure rate remain at, or above, the current levels for some time.  St. Louis homeowners that are are seriously delinquent on their mortgages (90+ days delinquent) rose in December to 5.73 percent  of the mortgages in St. Louis.  This a small increase from November’s rate of 5.49 percent but is a 50 percent increase from a year ago when the rate was 3.82 percent. The U.S. rate for seriously delinquent mortgages in December was 8.40 percent, an increase of over 62 percent from a year ago when the rate was 5.16 percent.
corelogic december 2009 St Louis Foreclosure and mortgage delinquency data

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