Foreclosures Fall in 62% of Major Markets

Foreclosures Fall in 62% of Major Markets

CNN Money (10/25, Christie) reports, "Foreclosures fell in nearly two-thirds of the nation's largest metro areas during the third quarter, according to RealtyTrac. ... With 62% of the nation's 212 largest markets seeing foreclosure activity shrink during the latest quarter, the ongoing decline is yet another sign that the housing market is starting to stabilize." In some cities, such as Francisco, Detroit, Los Angeles, Phoenix and San Diego, foreclosures decreased by at least 26%. Daren Blomquist, RealtyTrac's vice president said the data suggest "most of the nation's housing markets are past the worst of the foreclosure problem."