The foreclosure rate in the Tallahassee market dropped in December compared to the same period last year, according to data released Monday by real estate researcher CoreLogic.
The foreclosure rate in December for all outstanding mortgage loans was 4.04 percent, compared to 5.74 percent a year ago. The rates reflect a market area consisting of Leon, Gadsden, Wakulla and Jefferson counties.
The November 2013 rate was 4.17 percent.
Foreclosure activity in Tallahassee was higher than the national rate, which was 2.09 percent for December. The statewide foreclosure rate for Florida was 6.67 percent.
The foreclosure rate has been trending downward for more than a year in the Tallahassee market — evidence of residential real estate’s continued recovery and the gradually improving health of the economy in general.
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