Home Value Report Indicates a Decrease in Foreclosures Author: Brian Honea November 29, 2016

In October’s Home Value report from Pro Teck Services, the top 10 core-based statistical areas that saw the largest home values also experienced a decline in foreclosures ratio, with all but two of the 10 CBSAs seeing a double-digit percent decrease.

Fleshed out, the top 10 CBSAs consisted of:

  • Colorado Springs, Colorado with a -20.80 percent change in the foreclosure ratio
  • Mount Vernon-Anacortes, Washington with a -27.18 percent change in the foreclosure ratio
  • Olympia-Tumwater, Washington with a -29.92 percent change in the foreclosure ratio
  • Tacoma-Lakewood, Washington with a -31.97 percent change in the foreclosure ratio
  • Visalla-Porterville, California with a -5.37 percent change in the foreclosure ratio
  • Washington-Arlington-Alexandria, DC-Virginia-Maryland-West Virginia with a -14.14 percent change in the foreclosure ratio
  • Raleigh, North Carolina with a -13.84 percent change in the foreclosure ratio
  • Indianapolis-Carmel-Anderson, Indiana with a -13.99 percent change in the foreclosure ratio
  • Sacramento-Roseville-Arden Arcade, California with a -21.75 percent change in the foreclosure ratio
  • Kansas City, Missouri-Kansas with a -1.56 percent change in the foreclosure ratio

In the bottom 10 CBSAs, six out of the 10 had a negative foreclosure ration percent change, while the remaining four experienced an increase in the foreclosure ratio percent. These CBSA included Joplin, Missouri; Abilene, Texas; Midland, Texas; and Atlantic City-Hammonton, New Jersey.

“Atlantic City is once again our bottom real estate market in the country. President-elect Trump was part of the rise and fall of Atlantic City, with his companies filing four bankruptcies between 1991 and 2009,” says Pro Teck. “The rise of other gambling options, including other casino options closer to people’s homes, online betting and the transformation of Las Vegas into a multi-use destination all played a part in Atlantic City’s demise.”

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