WASHINGTON, D.C. ? January 22, 2012 ? (RealEstateRama) ? Foreclosure activity in 2012 was a Jekyll and Hyde affair, with the numbers up in 25 states compared to 2011 but down in the other 25 states.
Similar patterns show up at the metro level, with 92 out of the 212 metropolitan statistical areas tracked in the report (43 percent) documenting a drop in foreclosure activity compared to 2011, while the remaining 120 metro areas (57 percent) documented an increase in foreclosure activity.
Lower Foreclosures Begets Higher Home Prices
The metros with the strongest home price appreciation tended to be those with the biggest decreases in foreclosure activity ? although there were a few exceptions.
Higher Foreclosures Begets Lower Home Prices
The pattern is not so clear at the other end of the spectrum, but it still is evident that most of the 20 largest cities with the weakest home price appreciation ? or depreciation in some cases ? are those where foreclosure activity increased in 2012.
Full News: Foreclosure Weakness Translates to Home Price Strength
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Source: http://breakingnews.realestaterama.com/foreclosure-weakness-translates-to-home-price-strength.html
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