Indy and FW in top 20 metro areas for foreclosures

Benjamin Lanka writes in today’s Fort Wayne Journal Gazette on new foreclosure rate figures from RealtyTrac:

Fort Wayne ranked in the top 20 nationally among cities with high foreclosure rates, according to an online foreclosure marketplace company, but the problem is more severe in the state’s capital.

A study from RealtyTrac, which publishes the largest national database of pre-foreclosure and foreclosure properties, showed Fort Wayne ranked 18th out of the top 100 metropolitan areas for foreclosure rates in the first quarter of this year. Indianapolis ranked first on the list, averaging one foreclosure for every 69 households. Fort Wayne averaged one foreclosure for every 166 households.

The numbers aren’t shocking, but the article is worth reading nonetheless. The J-G article also lists the twenty metropolitan areas with the highest foreclosure rates, and there are some surprises there. Las Vegas made the top 20, sandwiched between Canton and Columbus (OH) despite strong recent home price appreciation in that market.

Click here for the full article and click here to visit the RealtyTrac website.