Thursday, April 26, 2012

Foreclosure Activity Still Down From Year Ago in Majority of U.S. Metros, RealtyTrac® Reports



IRVINE, CA – April 26, 2012 – RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its Q1 2012 Metropolitan Foreclosure Market Report, which shows first quarter foreclosure activity increased from the previous quarter in 114 out of the nation’s 212 metropolitan areas with a population of 200,000 or more.

First quarter foreclosure activity increased from the previous quarter in 26 out of the nation’s 50 largest metro areas, led by Pittsburgh (up 49 percent), Indianapolis (up 37 percent), Philadelphia (up 30 percent), New York (up 24 percent), Raleigh, N.C. (up 23 percent), and Virginia Beach, Va. (up 22 percent).

The biggest quarterly decreases in foreclosure activity among the 50 largest metro areas were in Portland, Ore. (down 28 percent), Las Vegas (down 26 percent), Providence, R.I. (down 24 percent), Salt Lake City (down 22 percent), Boston (down 21 percent), and San Jose, Calif. (down 21 percent).

“First quarter metro foreclosure trends were a mixed bag,” said Brandon Moore (top right photo), chief executive officer of RealtyTrac. “While the majority of metro areas continued to show foreclosure activity down from a year ago, more than half reported increasing foreclosure activity from the previous quarter — an early sign that long-dormant foreclosures are coming out of hibernation in many local markets.”   

For a complete copy of the company’s news release and statistics, please contact:

Christine Stricker
949.502.8300, ext. 268

Michelle Schneider
949.502.8300, ext. 139

Historical & Detailed Data
Tyler White
949.502.8300 ext. 158

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