The foreclosure rate in Nashville, Tennessee is trending downward according to new data compiled by Corelogic, a leading provider of real estate and business information. The rate for March 2012 was 1.72% of households. This is down nearly 7% over March of 2011 and has been slowly decreasing all year. This rate equates to 25,806 homes foreclosed over the last year in Tennessee. Nashville is significantly lower that the National Foreclosure Rate of 3.4% of households.
Five States still account for almost 50% of the foreclosures in the nation and they include: California (142,000), Florida (92,000), Michigan (60,000), Texas (58,000) and Georgia (57,000). Nationally, foreclosure inventory has decreased 0.1% over the last year and has leveled off during the first four months of 2012. Since the beginning of the financial crisis in 2008, approximately 3.6 million homes have completed foreclosure in the United States.
The graph below shows the Foreclosure Trend for Nashville over the last 16 months and included the rate for each month. How do you think Nashville and the Nation will fare over the next 12 months?