Foreclosures spread from bubble markets

RealtyTrac metro-level report suggests shift in epicenter

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Inman Connect New York | January 29 - February 1, 2019

An analysis of foreclosure-related filings at the metro level by data aggregator RealtyTrac shows new hot spots emerging in cities not generally viewed as bubble markets, including Provo, Utah; Rockford, Ill.; and Lansing, Mich.

All but one of the 20 metro markets tracked by RealtyTrac as having the highest rate of foreclosure-related filings during the third quarter were located in four states where speculation helped drive up prices during the boom: California, Florida, Nevada and Arizona. Those states also accounted for 37 of the 50 markets identified as having the highest foreclosure rates.