Foreclosure activity fell in 84 percent of U.S. metropolitan areas during the first half of 2011. According to RealtyTrac’s Midyear 2011 Metropolitan Foreclosure Market Report, foreclosures decreased on a year-over-year basis in 178 of the nation’s 211 metro areas with a population of 200,000 or more. James J. Saccacio, chief executive officer of RealtyTrac, said foreclosure activity continued to slow in the first half of the year but the dramatic drop indicates the foreclosure pipeline continues to be clogged by a glut of already-foreclosed properties and improperly filed foreclosures. The report also shows that the 10 metro areas with the highest foreclosure rates in the first half of the year posted decreasing activity compared to the first half of 2010. More here.
