TALLAHASSEE, Fla. (WTXL) - Over the past few years foreclosure rates have dropped to the lowest rate in years, according to new Data from CoreLogic.
This trend is consistent with what we are seeing in Tallahassee.
According to Joe Manausa Real Estate, only 1 in 20 homes sold are being foreclosed, which has been a consistent trend over the past few year and way lower than the most recent high of 2009.
Joe Manausa explained why he thinks the foreclosure rate has lowered to this point.
"Number 1 is we have come through crises, most of the problem owns we have been sold in the houses have been turned, and the economy is better and I think people are just paying their mortgage," said Manausa.
Also, according to CoreLogic, one area where delinquency rates fell were places like Panama City where the natural disaster hit.
Panama City saw 30 day mortgages triple after Hurricane Michael.
