Foreclosure rate falls in Sarasota-Bradenton

The foreclosure rate for North Port-Sarasota-Bradenton decreased significantly in December over the same period from 2013, according to a new report.

The report, from Irvine, Calif.-based real estate data firm CoreLogic, shows the rate of North Port-Sarasota-Bradenton area foreclosures among outstanding mortgage loans was 3.08% for December 2014. That's a drop of 3 percentage points compared to December 2013, when the rate was 6.08%, according to a release. The foreclosure activity for the North Port-Sarasota-Bradenton region was higher than the national foreclosure rate for the month, which was 1.47% in December.

The mortgage delinquency rate also decreased in the North Port-Sarasota-Bradenton region, according to CoreLogic data. The report states that 6.07% of mortgage loans were 90 days or more delinquent in December, compared to 9.69% for the same period last year. That's a decrease of 3.62 percentage points.