Good news for potential and current home owners; the worst effects of the housing crisis are beginning to wind down, according to a report.
RealtyTrac’s latest report shows the number of foreclosures in the U.S. in April is down 13 percent to 188,780 from 219,258 a year ago. However, some of the largest cities in the U.S. continue to lag behind the rest of the country and still have long to go before the housing crash has fully run its course.
RealtyTrac, an online marketplace for foreclosed, published the number of new home foreclosures in April across the 50 largest metropolitan statistical areas in the country.
From the states surveyed, 10 had more than double the national foreclosure rate, which is one out of every 698 new homes. In California’s Inland Empire metropolitan area, the rate was more than triple that.
These are the 10 cities with the most homes in foreclosure:
10. Orlando-Kissimmee, Fla.
• Foreclosure rate: One in 347 homes
• Number of homes: 942,312 (24th most)
• Foreclosures (April 2012): 2,717 (16th most)
• Home price decline from peak: 54.2 percent (sixth largest decline)
9. Chicago-Naperville-Joliet, Ill.-Ind.-Wis.
• Foreclosure rate: One in 321 homes
• Number of homes: 3,797,247 (third most)
• Foreclosures: (April 2012): 11,840 (the most)
• Home price decline from peak: 36.8 percent (12th largest decline)
8. Tampa-St. Petersburg-Clearwater, Fla.
• Foreclosure rate: One in 315 homes
• Number of homes: 1,353,158 (17th most)
• Foreclosures: (April 2012): 4,295 (eighth most)
• Home price decline from peak: 48 percent (eighth largest decline)
7. Phoenix-Mesa-Scottsdale, Ariz.
• Foreclosure rate: One in 313 homes
• Number of homes: 1,798,501 (12th most)
• Foreclosures: (April 2012): 5,755 (sixth most)
• Home price decline from peak: 56 percent (third largest decline)
6. Salt Lake City, Utah
• Foreclosure rate: One in 309 homes
• Number of homes: 410,031 (first least)
• Foreclosures (April, 2012): 1,326 (23rd least)
• Home price decline from peak: 19.3 percent (25th largest decline)
5. Atlanta-Sandy Springs-Marietta, Ga.
• Foreclosure rate: One in 298 homes
• Number of homes: 2,165,495 (ninth most)
• Foreclosures: (April 2012): 7,271 (fourth most)
• Home price decline from peak: 35 percent (14th largest decline)
4. Sacramento-Arden-Arcade-Roseville, Calif.
• Foreclosure rate: One in 277 homes
• Number of homes: 871,793 (23rd fewest)
• Foreclosures: (April 2012): 3,147 (12th most)
• Home price decline from peak: 54.7 percent (fifth largest decline)
3. Miami-Ft. Lauderdale-Pompano Beach, Fla.
• Foreclosure rate: One in 273 homes
• Number of homes: 2,464,417 (fifth most)
• Foreclosures: (April 2012): 9,031 (3rd most)
• Home price decline from peak: 54.2 percent (seventh largest decline)
2. Las Vegas-Paradise, Nev.
• Foreclosure rate: One in 249 homes
• Number of homes: 840,343 (22nd fewest)
• Foreclosures: (April, 2012): 3,378 (10th most)
• Home price decline from peak: 61.8 percent (the largest decline)
1. Riverside-San Bernardino-Ontario, Calif.
• Foreclosure rate: One in 213 homes
• Number of homes: 1,500,344 (14th most)
• Foreclosures: (April, 2012): 7,049 (fifth most)
• Home price decline from peak: 56.6 percent (second largest decline)
