JOPLIN, MO.--- A new housing report is out and it's good news for Joplin. Foreclosure rates are down in the Joplin area and they are continuing to drop. In November of last year, the foreclosure rate in Joplin was .87%. Compare that to rates in November of 2012, which were 1.07%. The economy is the main reason for this decrease. Jobs are continuing to increase in Joplin, which is making housing more affordable.
"Economic indicators out there right now are very good. We see increases in manufacturing across the board. So long term, I think the foreclosure rates will stay down as long as job creation is still there," said Stuart Puckett, Arvest Bank Loan Manager.
Experts say as long as Joplin residents are employed, the foreclosure rates will keep dropping.
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