Tuesday, August 14, 2007

Daily Real Estate News | August 14, 2007

Foreclosure Rates Continuing to Rise Nationwide

RealtyTrac, which sells foreclosed properties nationwide, released its midyear report, showing that California and Ohio cities account for 10 of the top 20 metropolitan areas in rate of foreclosures.

Foreclosure activity appears to be moderating in parts of the country where it initially skyrocketed, including Texas and South Carolina, "but the overall trend is toward escalating foreclosure rates, with 82 of the top 100 metro areas reporting year-over-year increases in the number of homes affected by foreclosure,” says James J. Saccacio, CEO of RealtyTrac.

Here are the metropolitan areas with the top 20 rates of foreclosure from January to June 2007.

Stockton, Calif.
Detroit/Livonia/Dearborn, Mi
Las Vegas/Paradise, Nev.
Riverside/San Bernardino, Calif.
Sacramento, Calif.
Denver/Aurora, Colo.
Bakersfield, Calif.
Memphis, Tenn.
Cleveland/Lorain/Elyria/Mentor, Ohio
Fort Lauderdale, Fla.
Atlanta/Sandy Springs/Marietta, Ga.
Fort Worth/Arlington, Texas
Fresno, Calif.
Dayton, Ohio
Akron, Ohio
Oakland, Calif.
Columbus, Ohio

Source: REALTOR® Online (08/14/2007)

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