Foreclosure Activity Up in 77 of Top 100 Metros
RealtyTrac released its third-quarter metro foreclosure rankings today, showing that rising foreclosures are affecting many areas of the country. Company CEO James J. Saccacio said in a statement that foreclosure activity increased on a quarterly basis in 77 out of the nation's 100 largest metro areas.
“Although cities in just three states — California, Ohio and Florida — accounted for more than two-thirds of the top 25 metro foreclosure rates, increasing foreclosure activity was not limited to just a few hot spots," Saccacio said. "Still, there continue to be pockets of the country — most noticeably metro areas in the Carolinas, Virginia and Texas — that have thus far dodged the foreclosure bullet.”
The top three metro foreclosure rates in the third quarter were in Stockton, Calif., which documented one foreclosure filing for every 31 households, Detroit, which documented one foreclosure filing for every 33 households, and Riverside-San Bernardino, Calif., which documented one foreclosure filing for every 43 households.
Other cities with metro foreclosure rates in the top 10 in the third quarter were Fort Lauderdale, Fla., Las Vegas; Sacramento, Calif.; Cleveland; Miami; Bakersfield, Calif.; and Oakland, Calif. California cities accounted for seven of the top 25 metro foreclosure rates, while Florida and Ohio each accounted for five of the top 25 spots.
View full list of top 100 metros.