Foreclosures in Spokane County are a growth industry. A recent CoreLogic study found Spokane foreclosures increased in May compared to the same period last year.
CoreLogic's data show the rate of foreclosures among outstanding mortgage loans is 1.67 percent for the month of May 2011, an increase of 0.42 percentage points compared to May of 2010 when the rate was 1.25 percent.
Foreclosure activity in Spokane is less than the U.S. rate of 3.45 percent for May. That's a 1.78 percentage point difference in Spokane's favor.
Spokane has a mortgage delinquency rate of 4.56 percent. The term refers to mortgage loans 90 days or more delinquent.
A year ago in May 2010, the delinquency rate was 4.40 percent, showing a 0.16 percent hike year over year.
The image shows the May 2011 CoreLogic map of foreclosures in Spokane County. Click image for slightly larger version; color key shows the varying foreclosure rates.
The Spokesman-Review business team follows economic development in Spokane and the Inland Northwest.
Tom Sowa Tom Sowa covers technology, retail and economic development and writes the Office Hours blog.
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