Houston rises in list of foreclosures during first half
August 1st, 2011 4:07am
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According to RealtyTrac, the Houston real estate market rose in its list of foreclosure activity among the nation's top 20 metro markets.Nationally, RealtyTrac's Midyear 2011 Metropolitan Foreclosure Market report revealed a 25.49 percent decline in foreclosures from the previous six-month period and a 29.27 percent fall from the first half of 2011.
Among the country's top 20 metro markets, all but Seattle posted a year-over-year decline in foreclosures. Seattle experienced the biggest jump in foreclosure rate, climbing from number 97 in the first half of 2010 to 57 most recently. More than 200 metros were reported.
Houston, however, had the second-greatest jump, moving from 109th in foreclosure rate to 91st, followed by Minneapolis, which climbed from 79th to 64th.
California, Nevada and Arizona cities accounted for all of the company's top 10 metro foreclosure rates, and 15 of the top 20. The Las Vegas-Paradise region had the nation's highest rate with one in every 19 homes foreclosed.
"Foreclosure activity continued to slow in the first half of 2011, especially in the most foreclosure-saturated markets and in markets where the judicial foreclosure process is used,” said James Saccacio, chief executive officer of RealtyTrac.
Courtesy of 2M Realty News
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