Saturday, July 28, 2012
IRVINE, CA– RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties released its Midyear 2012 Metropolitan Foreclosure Market Report, which shows that foreclosure activity in the first half of 2012 increased from the previous six months in 125 of the nation’s 212 metropolitan areas with a population of 200,000 or more.
Despite the increases from the second half of 2011, 129 of the metro areas still posted year-over-year decreases in foreclosure activity.
California accounted for seven of the 10 highest metro foreclosure rates and 10 of the top 20 metro foreclosure rates during the first half of the year.
Florida accounted for four of the top 20 metro foreclosure rates, and Illinois accounted for two of the top 20. Georgia, Arizona, Nevada and Colorado each had one city in the top 20.
“Increasing foreclosure starts in many local markets helped push total foreclosure activity higher in the first half of this year compared to the second half of 2011,” said Brandon Moore (top right photo), CEO of RealtyTrac.
“Those foreclosure starts are welcome news for prospective buyers and real estate brokers in many local markets where a shortage of aggressively priced inventory has been holding up sales activity.
"Markets with increasing foreclosure starts will likely see more distressed inventory for sale in the form of short sales and bank-owned properties in the second half of the year.”
For a complete copy of the company’s news release, please contact:
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