Foreclosures Up in 72% of Major Metros but Down in Hardest-Hit Areas

RealtyTrac has released its 2010 foreclosure tallies for the nation’s largest metropolitan areas. The tracking firm found that foreclosure activity increased from 2009 in 149 of the 206 metros with a population of 200,000 or more, or 72 percent.

Interestingly enough, the metro areas with the 10 highest foreclosure rates all posted decreasing activity from 2009, but RealtyTrac says foreclosures became more widespread last year as high unemployment drove activity up in parts of the country that had been relatively insulated from the initial foreclosure tsunami.

“Foreclosure floodwaters receded somewhat in 2010 in the nation’s hardest-hit housing markets,” said James J. Saccacio, RealtyTrac’s CEO. “Even so, foreclosure levels remained five to 10 times higher than historic norms in most of those hard-hit markets, where deep fault lines of risk remain and could potentially trigger more waves of foreclosure activity in 2011 and beyond.”

Find out which cities had an increase in foreclosures by reading’s full article here.

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