The latest mortgage statistics show an improving market in Sarasota and Manatee counties as the numbers continue to improve. Both short-term delinquency rates (30 days late) and foreclosures are down when compared to the same period last year. However, serious delinquencies (90 days + late) have flattened out.
The most recent data shows that there are roughly 9% less people 30 days late on their mortgages than there were last year at the same time. The total is only 3.1% (versus 3.3% last month).
Longer-term mortgage delinquencies are flat at 1.7%. We define long-term delinquencies as people who are 90 days or more, late on their mortgage payments.
Foreclosures are down over 12% when comparing this year to last (0.7% of mortgages). When you put it all together, the mortgage statistics indicate a healthy real estate market. The video below shows the relevant statistics for our area.