Where Foreclosure Deals Can Still Be Found
Realty Trac Staff | April 13, 2017
Fewer foreclosures are on the market. First-quarter foreclosure activity has fallen below pre-recession levels nationwide in 102 out of 216 metro areas analyzed, according to ATTOM Data Solutions. Still, a few markets are showing elevated levels of foreclosures. For example, first-quarter foreclosure activity levels were still above pre-recession averages in Philadelphia (97 percent above); New York (80 percent above); Washington, D.C. (64 percent above); Boston (26 percent above); and Chicago (9 percent above). Nationally, one in every 1,604 properties had a foreclosure filing in March, according to ATTOM Data Solutions’ report. The following metro areas with populations of at least 200,000 had the highest foreclosure rates in March: Trenton, N.J.: 1 in every 355 housing units received a foreclosure filing Atlantic City, N.J.: 1 in every 452 Philadelphia: 1 in every 577 Rockford, Ill.: 1 in every 631 Peoria, Ill.: 1 in every 710 Additional metros among the top 10 list of foreclosure rates in March were Reading, Pa.; Las Vegas; Chicago; Baltimore; and Ocala, Fla. A handful of metros also are posting year-over-year increases in foreclosure activity, such as New Jersey (34 percent increase); Oklahoma (13 percent); and Louisiana (7 percent increase). Foreclosures sold for an average discount of 18 percent below market value in February, according to the National Association of REALTORS®.
Source: Realty Trac