Industry NewsMarkets & Economy

RealtyTrac names ’20 best places to buy foreclosures’

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Most large metro markets in the U.S. saw increased foreclosure activity in 2012, according to a report from foreclosure data aggregator RealtyTrac.Of the 212 metro areas with populations of 200,000 or more watched by RealtyTrac, 120 (57 percent) saw the number of properties hit with foreclosure-related filings increase from 2011 to 2012.Major metros seeing double-digit annual increases in foreclosure activity included Tampa (up 80 percent increase), Miami (36 percent), Baltimore (34 percent), Chicago (30 percent), and New York (28 percent).Overall, foreclosure activity -- the number of properties subjected to default notices, schedule auctions, or bank repossessions -- declined by 2.7 percent from 2011 to 2012, a less dramatic reduction than last year's 36.1 percent annual decline.Foreclosures peaked in most markets in 2010, RealtyTrac said, and 85 percent of large metros saw less foreclosure activity last year than in 2010.RealtyTrac also identified what it thinks will be th...