Third Quarter Foreclosures up in 65% of Major Metropolitan Areas

Cities in California, Florida, Nevada and Arizona once again accounted for all top 10 foreclosure rates in the third quarter among metropolitan areas with a population of 200,000 or more, according to a report from RealtyTrac Inc. Irvine-based RealtyTrac said that cities outside those four states accounted for many of the biggest increases in metro foreclosure activity.

California, Florida, Nevada and Arizona cities also accounted for 19 of the top 20 metro foreclosure rates.

Among all 206 metro areas tracked in the report 133 (65 percent) posted year-over-year increases in foreclosure activity, and 11 of the nation’s 20 largest metro areas posted year-over-year increases.

Seattle-Tacoma-Bellevue led the way with a 71 percent increase in foreclosure activity from the third quarter of 2009, followed by Chicago-Naperville-Jolier with a 35 percent increase.

Las Vegas-Paradise continued to post the nation’s highest metro foreclosure rate in the third quarter, with one in every 25 housing units (3.98 percent) receiving a foreclosure filing — more than five times the national average.

With one in every 36 housing units (2.76 percent) receiving a foreclosure filing during the third quarter, Modesto posted the nation’s third-highest metro foreclosure rate despite a nearly 18 percent decrease in foreclosure activity from the third quarter of 2009. Other California metro areas in the top 10 were Stockton at No. 4 (2.59 percent); Merced at No. 5 (2.48 percent); Riverside-San Bernardino-Ontario at No. 6 (2.46 percent); Bakersfield at No. 9 (2.25 percent); and Vallejo-Fairfield at No. 10 (2.23 percent).

Salinas came in at No. 33 on the list, with 1,748 properties receiving foreclosure filings. San Francisco-Oakland-Fremont was No. 43 with 17,913; Santa Cruz-Watsonville No. 51 with 899; and San Jose-Sunnyvale-Santa Clara No. 56 with 5,129.

Comment on Global Research Articles on our Facebook page

Become a Member of Global Research

Articles by: Global Research

Disclaimer: The contents of this article are of sole responsibility of the author(s). The Centre for Research on Globalization will not be responsible for any inaccurate or incorrect statement in this article. The Centre of Research on Globalization grants permission to cross-post Global Research articles on community internet sites as long the source and copyright are acknowledged together with a hyperlink to the original Global Research article. For publication of Global Research articles in print or other forms including commercial internet sites, contact: [email protected] contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available to our readers under the provisions of "fair use" in an effort to advance a better understanding of political, economic and social issues. The material on this site is distributed without profit to those who have expressed a prior interest in receiving it for research and educational purposes. If you wish to use copyrighted material for purposes other than "fair use" you must request permission from the copyright owner.

For media inquiries: [email protected]