CoreLogic: Local foreclosures up in August

SACRAMENTO, Calif. – The foreclosure rate in the Providence-New Bedford-Fall River market rose in August to 1.5 percent from year-ago rate of 1.1 percent, according to national data collector First American CoreLogic.
The 2,921 foreclosures put the market lower than the national foreclosure rate of 4.4 percent for the month. Nationally, the rate of foreclosure rose 2.9 percentage points from August 2007.
August home prices fell 10.88 percent to a median price of $240,000 from the same period last year. The national median price fell 7.83 percent to $203,900.
Single-family home sales fell 36.25 percent in August. The 1,055 reported sales were 600 fewer in August 2007. Nationally, sales were down 34 percent.
First American CoreLogic, a member of The First American Corporation companies, is a national provider of real estate, property and ownership data. It collects data from 7,569 ZIP codes in all 50 states and Washington, D.C. For more information, visit www.corelogic.com.