US Real Estate Forclosures - An Update

Foreclosures are beginning to flare up in suburban and secondary metro markets for Q309, according to a report from RealtyTrac.

Dramatic increases in foreclosures from a year ago came in suburban areas previously believed to be more stable, such as Boise, Idaho, up nearly 22% from Q209. Another area, Provo, Utah, is located a distance of 45 miles outside Salt Lake City and rose nearly 11% in the same period. RealtyTrac provides an online marketplace for foreclosure properties with more than 1.5m default, auction and REO listings.

In several states, foreclosure activities drifted toward new focal points, such as smaller towns with previously self-sustaining industries. Chico, California in Sacramento Valley, and agricultural hub, had a 98% increase in foreclosures from Q308, according to the report. Read the whole thing here. 

We are not done yet!

This entry was posted on 1. November 2009 at 16:41 and is filed under Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.