Tri-Cities has lowest foreclosure rate since 2004 - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

Tri-Cities has lowest foreclosure rate since 2004

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The number of homes entering foreclosure are the lowest they've been since 2004.

According to Benton Franklin Title there were 32 notices of foreclosure given in the entire Tri-Cities this month. Home brokers say much of that is due to the stronger economy here along with better interest rates on homes and lower unemployment.

"The nice thing about what's happening with our foreclosure notices is that because our market has been doing well, if people are in trouble, and there are some that are unfortunately, they're able to get out of their home and sell it without having to go to the foreclosure," Broker for Windermere Dave Retter said.

Since 1990 about 22-thousand houses have been built. Retter says if one examines the numbers it seems the foreclosure rate should be higher, but with increasing demand for houses in our area that number has remained low.