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 serious delinquencies (90 days + late) are lower than they were last year at this time. From a mortgage perspective, Hurricane Irma had significantly more impact than this year’s red tide.
The most recent data shows that there are roughly 54% less people 30 days late on their mortgages than there were last year at the same time. The total is only 2.9% (versus 3.2% last month).
Longer-term mortgage delinquencies are down roughly 18% when compared to last year at this time. We define long-term delinquencies as people who are 90 days or more, late on their mortgage payments.
Foreclosures are slightly higher this year when compared to last year (0.6% of mortgages vs. 0.5% last year). 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.