Although the country as a whole is breathing a collective sigh of relief about foreclosures, there are still little pockets of choppiness. One of those places is DC. In new numbers calculated by RealtyTrac, the DC MSA- Washington, Arlington, and Alexandria- ranked 54th in the nation for foreclosures. They compute that number by dividing the total number of housing units in an area by the number of foreclosures. But that’s only for metros with a population of 200,000 or better. In January, RealtyTrac found there to be 2,061 homes somewhere in the foreclosure process in the DC metro. That’s a month-over-month dip of 1.67 percent, but a 16.9 percent rise since January 2015. Many factors can play into these rates. For example, some states have much longer foreclosure processes than others, depending on legal requirements and backlogs. And, there is naturally some level of foreclosure activity in the housing market. Part of that bump may be due to increased foreclosur...
- Foreclosures in the DC metro are still present, but not problematic.
- In new RealtyTrac numbers for January, the foreclosure rate climbed by double-digits in DC.
- Nationally, the foreclosure rate is below 1 percent.