Foreclosures down in Atlanta

The burst of the housing bubble – nearly nine years ago in Atlanta — caused unprecedented distress in the real estate market. Though the improvement has not been evenly spread through the region, the level of pain has continued to ebb.

A report from California-based CoreLogic released this morning, showed Atlanta’s foreclosure rate dipping from 0.85 percent a year ago to 0.62 percent in February.

Unlike the first years of the housing crisis, the foreclosure rate now has dipped lower than the national average, which was 1.13 percent, CoreLogic reported.

The mortgage delinquency rate for Atlanta has also fallen.

According to CoreLogic, 3.07 percent of mortgage loans in metro Atlanta were 90 days or more delinquent compared with 3.84 percent for the same period last year.

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Michael Kanell

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