The nationwide year-to-year decrease was the largest in RealtyTrac’s report history, which goes back to 2005. The firm pinned the drop on halts in foreclosure activity related to. had the biggest.
· With one in every 120 housing units with a foreclosure filing during the month, Stockton, Calif., posted the nation’s highest metro foreclosure rate for the second month in a row. There were a total of 1,913 Stockton properties with a foreclosure filing in November, up 20 percent from the previous month and up 9 percent from November 2010.
Home RealtyTrac: Many states witness housing reboot as foreclosure. Many states witness housing reboot as foreclosure activity rises.. foreclosure activity picked up in 120 metros. All told, foreclosure activity jumped in 149 of the country’s 206 largest metropolitan areas last year, foreclosure listing firm RealtyTrac Inc. said Thursday.
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Foreclosure activity in the Chicago-Naperville-Joliet metro area was up 44 percent YoY, making it the metro with the eighth highest foreclosure rate in the country. blomquist told Business Insider in an email interview that in the case of the chicago metro area, a land bank , like the ones set up in Cleveland and Detroit that rehabilitate properties or demolish them, could help ease the burden of distressed properties.
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All told, foreclosure activity jumped in 149 of the country’s 206 largest metropolitan areas last year, foreclosure listing firm RealtyTrac Inc. said Thursday. and the pace of foreclosures is.
2012 foreclosure activity increased from 2011 in 120 (57 percent) out of the nation’s 212 metropolitan statistical areas with a population of 200,000 or more. Foreclosure activity during the year decreased from 2010-when foreclosures peaked in most markets-in 181.
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States with the five highest foreclosure rates in October included Florida, Nevada, Maryland, Ohio, and Illinois, according to RealtyTrac’s report. Among the nation’s 20 largest metro areas, the highest foreclosure rates were in Miami, Tampa, Chicago, Baltimore, and Riverside-San Bernardino, California.
Foreclosures are expected to pick-up as soon as banks begin to clear their backlog of troubled loans. RealtyTrac is projecting a 25 percent increase in foreclosures in 2012. If an increase does occur, some housing experts wonder how it will impact overall home prices and whether the discounts for REOs will be even larger this time around.