What was once a monstrous issue is now almost an after-thought… Louisville foreclosures.
Today, the topic of distressed houses (foreclosures, short sales, etc.) doesn’t dominate the public mindshare like it used to. Sure, there are still a good number of Louisville foreclosures but this number continues to drop.
Key on this stat from the chart below: During April 2013, the foreclosure rate was 2.03%. This year that number is much lower, at 1.49%, its lowest point in years.
Foreclosure activity in Louisville-Jefferson County was lower than the national foreclosure rate, which was 1.77 percent for April 2014.
Let’s hope we don’t see mortgage rules loosen too much. Compared to National rates, Louisville is performing much better as we see in this CoreLogic quote.
| Location | 90+ Day Delinquency Rate April 2014 | 90+ Day Delinquency Rate April 2013 | Percentage Point Change in 90+ Day Delinquency Rate | Foreclosure Rate April 2014 | Foreclosure Rate April 2013 | Percentage Point Change in Foreclosure Rate |
|---|---|---|---|---|---|---|
| Kentucky | 4.18% | 4.78% | -0.60% | 1.47% | 2.03% | -0.54% |
| Louisville-Jefferson County, KY | 4.32% | 5.11% | -0.79% | 1.47% | 2.18% | -0.71% |
| US | 4.54% | 5.78% | -1.24% | 1.77% | 2.66% | -0.89% |
The delinquency rate is also declining so we can expect a further reduction of Louisville homes being foreclosed in the future.
The source of this data is CoreLogic, a national data analytics company.
