RealtyTrac, the nation's foremost statistical keeper of foreclosure data, released its Midyear 2010 Metropolitan Foreclosure Market Report, which shows 154 of the 206 U.S. metropolitan areas with a population of 200,000 or more posted year-over-year increases in foreclosure activity even while foreclosure activity decreased in nine of the 10 metros with the highest foreclosure rates.
Four states-Florida, California, Nevada and Arizona-accounted for all top 20 metro foreclosure rates. Florida led the way, with nine of the top 20 metro foreclosure rates, followed by California with eight, Nevada with two and Arizona with one.
James J. Saccacio, chief executive officer of RealtyTrac, said, "The fragile stability achieved in many local housing markets hinges on improvements in the underlying economy, specifically job growth. If unemployment remains persistently high and foreclosure prevention efforts only delay the inevitable, then we could continue to see increased foreclosure activity and a corresponding weakness in home prices in many metro areas."
Why do I blog about bad news? Because it is a Buyer's Market here in Ormond and Daytona Beach. Investors are finally catching on to the great bargains available in waterfront homes. Use the RealBird widget below to check out home prices on the water - change to "canalfront" or "golf" or "condo" if you want. You'll see great prices for all of our inventory!
Comments(0)