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Investors Eye Foreclosure Declines, Home Price Increases
 According to ForeclosureListings.com nationwide data, foreclosures in many of the top states for investors dropped. For example, the rates in California dropped by over 3.5 percent and rates in Florida fell by nearly 2 percent. The rates in Arizona fell by almost 1.5 percent while those in Texas dropped by just over 1 percent. Foreclosure rates in Georgia and Michigan fell by less than 1 percent. The largest drop by far for foreclosures was seen in Nevada which saw its foreclosure rates plummet by nearly 7.5 percent. In comparison, Hawaii saw a significant increase of over 5 percent. Many individual cities also saw notable decreases in their levels of foreclosures, including Salinas (almost 18 percent), Las Vegas (9.5 percent), Chicago (6 percent), Detroit (4.3 percent), Atlanta (3.2 percent), Phoenix (1.6 percent), and Memphis (under 1 percent). Montgomery, Alabama saw the highest increase in foreclosure rates among U. S. cities with an increase of over 7 percent. Home prices in many states and some big cities have also started to creep upward. Increases of less than 1 percent have been seen in states such as California, Georgia, and Texas while the prices rose by just over 1 percent in Florida and Michigan. Housing prices average $64,000 in Ohio (the lowest average price in the country) and $343,000 in California (the highest average price in the country). Price increases have been seen in cities, including Miami (1.3 percent), Las Vegas (1 percent), Orlando (1.3 percent), Phoenix (less than 1 percent), Atlanta (less than 1 percent), Denver (2.3 percent), and San Diego (less than 1 percent). The biggest jump in prices was in Ridgefield, Connecticut where prices rose by more than 45 percent. However, home prices in Sanibel, Florida fell by 25 percent. More information: www.ForeclosureListings.com.
NEWS SOURCE: ForeclosureListings
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ForeclosureListings : » Borrowers Fighting June Foreclosure Rise in California and Arizona » Foreclosure Crisis Falling and Rising in Major Cities » More Expensive Houses Entering Foreclosures » Top 5 States with More Foreclosures in 2011 from 2010 » Foreclosure Rates on the Rise Across the Nation
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REFERENCES: Investors Eye Foreclosure Declines, Home Price Increases, ForeclosureListings, real estate foreclosure listings, housing market report, home prices, investors, markets, reports, press release, Jul 6, 2009. |
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