Foreclosure activity increased 54% of U.S. markets in 2012 According to RealtyTrac’s 2012 Year-End Metropolitan Foreclosure Market Report. Foreclosure activity increased from 2011 in 120 (57 percent) out of the nation’s 212 metropolitan statistical areas with a population of 200,000 or more. Foreclosure activity during the year decreased from 2010 — when foreclosures peaked in most markets — in 181 out of the 212 markets tracked in the report (85 percent).
Foreclosure activity in 2012 decreased from 2011 in 12 out of the nation’s 20 largest metro areas, led by Phoenix (down 37 percent), San Francisco (down 30 percent), Detroit (down 26 percent), Los Angeles (down 24 percent), and San Diego (down 24 percent).
But 2012 foreclosure activity increased in eight of the 20 largest metros, led by Tampa (80 percent increase), Miami (36 percent increase), Baltimore (34 percent increase), Chicago (30 percent increase), and New York (28 percent increase).
By Michael Gerrity, World Property Channel on January 31, 2013 9:46 AM
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