Increases in foreclosures in major metro markets.

RealtyTrac® (www.realtytrac.com),  the leading online marketplace for foreclosure properties, today released its 2010  Year-End Metropolitan Foreclosure Market Report, which shows that while  foreclosure activity increased from 2009 in 149 of the nation’s 206 metropolitan  areas with a population of 200,000 or more, the metro areas with the 10 highest  foreclosure rates all posted decreasing foreclosure activity from 2009 and six  of the top 10 also posted decreasing foreclosure activity from 2008.

California, Florida, Nevada and Arizona cities accounted for 19 of the top 20  metro foreclosure rates, with Boise City-Nampa, Idaho the lone exception at No.  20. Boise also was one of only three metros in the top 20 where foreclosure  activity increased from 2009, along with the Florida metro areas of Deltona-Daytona Beach-Ormond Beach at No. 13 and Tampa-St.  Petersburg-Clearwater at No. 17.

“Foreclosure floodwaters receded somewhat in 2010  in the nation’s hardest-hit housing markets,” said James J. Saccacio, chief  executive officer of RealtyTrac. “Even so, foreclosure levels remained five to 10  times higher than historic norms in most of those hard-hit markets, where deep  faultlines of risk remain and could potentially trigger more waves of  foreclosure activity in 2011 and beyond. Meanwhile foreclosures became more  widespread in 2010 as high unemployment drove activity up in 72 percent of the  nation’s metro areas — many of which were relatively insulated from the initial  foreclosure tsunami.”

Published in: on January 28, 2011 at 1:27 pm  Leave a Comment