Industry News

Real estate foreclosures in Q2 drop in most metros

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Indianapolis, Atlanta and Dallas posted the nation's three highest metropolitan foreclosure rates in the second quarter, and four Texas cities are on the top-10 list, foreclosure information company RealtyTrac reported today. The latest U.S. Metropolitan Foreclosure Market Report, which ranks the foreclosure rates of the nation's 100 largest metropolitan areas, found that Denver, Memphis and San Antonio also registered foreclosure rates among the nation's top 10. One in every 101 households in Indiana was in foreclosure in the second quarter, according to the report. While six of the cities in the top 10 were on this short list in first-quarter 2006, four were new to the top-10: Stockton, Calif., Salt Lake City, Austin and Houston. James J. Saccacio, CEO of RealtyTrac, said in a statement, "The majority of metros we track, along with the nation as a whole, reported fewer foreclosures compared to the previous quarter." Of the cities with the 10 highest foreclosure rates, Houston, Aust...