Not all the local real estate news is good. It seems more of us are falling behind on our mortgages and facing foreclosure.
A new report from CoreLogic, a provider of real estate information, reports that Erie County’s foreclosure rate was 2.25 percent in April, the most recent month for which statistics are available. That compares to 1.76 percent in April of 2011. The statewide foreclosure rate for April was 2.52 percent, while the national rate was 3.47 percent.
The share of homeowners who are 90 days or more behind on their mortgages climbed from 4.97 percent to 5.29 percent. That compares to a statewide delinquency rates of 5.77 percent and a national rate of 7.07 percent.
The rising foreclosure numbers come on the heels of some good news for the local real estate market.
A story in Wednesday’s Erie Times-News and on GoErie.com reported that single-family home prices are up nearly 8 percent this year in Erie County.