Over 50% of metropolitan areas in the U.S. that were surveyed during the third quarter of 2010 find tax deed sales and foreclosure totals continuing to climb when compared with the same period of 2009. Metro areas with at least 200,000 residents are included in the nationwide survey.
The total number of Albuquerque foreclosure houses, NM rose considerably during the July-September 2010 quarter when compared with the same three-month period of 2009. The city recorded a 62.4% jump in total foreclosures for the period compared with year-ago levels. However, it did post an almost 7% decline in the third quarter of the current year when compared with the previous quarter.
Figures for New Mexico foreclosed homes for sale recorded increases when yearly comparisons are made. However, the state is still in better shape than other regions like Nevada, California and Florida. New Mexico's main metro region, Albuquerque, ranked 77th among the 206 metropolitan areas surveyed for the quarter in terms of foreclosure rates.
People trying to find tax deed sales and foreclosed homes that they can buy can choose from a big number of metro cities since 65% of them, or a total of 133 out of 206, have recorded higher foreclosure totals when compared with 2009. Of the 20 biggest metropolitan areas, 11 recorded higher foreclosure totals compared with year-ago figures.
A foreclosed homes search will reveal that among the metro regions of the U.S., Seattle-Tacoma-Bellevue recorded the highest increase based on yearly comparable figures, with the region posting an increase of over 70% in terms of foreclosure activities. The second highest increase for the third quarter was recorded in Chicago-Naperville-Jolier which posted a jump of 35%.
Based on nationwide rankings, Las Vegas-Paradise still occupies the top spot for the 2010 third quarter, with the metro posting a 3.98% foreclosure rate for the July-September period which translates to a ratio of one household out of every 25 receiving a filing or entering the first phase of foreclosure.
Although property buyers can find tax deed sales and foreclosed properties by the thousands in Albuquerque, the city's housing market is still in a much better position than 76 other metro areas all around the U.S.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.
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