Foreclosure
inventory may be decreasing, but certain metros showed high levels of
foreclosure activity in 2012, which means they might also be places where
foreclosure listings-short sales or REOs—could increase, according to an
article from RealtyTrac.
After
assessing foreclosure activity across the country, the foreclosure data
provider released a list of 20 metros where for-sale foreclosures are expected
to rise in 2013. RealtyTrac selected metros based on the annual percent change
in foreclosure activity and the number of foreclosure starts and completions
through November 2012.
All
metros had at least 2,000 foreclosure starts and REOs and experienced at least
a 20 percent increase in foreclosure activity, or starts and REOs.
Among
the list of 20 metros, eight were based in Florida, with Palm Bay leading with
the highest annual percent change in foreclosure activity. Over a one-year
period, Palm Bay has seen its foreclosure activity increase by 110 percent.
Other Florida metros on the list included Lakeland, Tampa, Panama City,
Pensacola, Jacksonville, Orlando, and Ocala.
Among
those metros, Tampa and Orlando were notable for their high number of
foreclosure starts, which numbered 22,594 and 17,429, respectively.
North
Carolina had four metros on the list: Raleigh, Charlotte, Winston-Salem, and
Greensboro. In Raleigh, foreclosure activity increased 62 percent in 2012.
Two
Connecticut metros, New Haven and Bridgeport, also made the list.
New
York, which is known for its long foreclosure timeline, was listed as having
30,455 foreclosure starts.
The
remaining metros where foreclosure listings are expected to rise were Omaha,
Nebraska; Rockford, Illinois; Pittsburgh; Allentown, Pennsylvania; and Cleveland,
Ohio.
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