The 90-day delinquency rate has begun to fall in many markets across the United States. Modest price growth in roughly half of the markets monitored by NAR Research coupled with declining unemployment rates have helped to draw down the flow of delinquent properties into foreclosure. Cities in the Midwest have performed particularly well as they dominated the ten metro areas with the lowest 90-day delinquency rate in February of 2012. Kennewick-Richland-Pasco, Washington was the only market in the top 10 that is from outside of the Midwest.
For more information on delinquency trends in local housing markets, see the Local Market Reports for the 1st quarter of 2012.