Investors Eye Foreclosure Declines, Home Price Increases

NEW YORK, July 6 /PRNewswire/ -- Despite recent negative information about the
job market in the United States, the housing market is beginning to show some
signs of improvement shows the latest ForeclosureListings.com report.
Investors wanting to take advantage of the slumping prices and frequent
foreclosures, particularly in some of the top markets, may need to act more
quickly.

According to ForeclosureListings.com nationwide data, foreclosures in many of
the top states for investors dropped. For example, the rates in California
dropped by over 3.5% and rates in Florida fell by nearly 2%. The rates in
Arizona fell by almost 1.5% while those in Texas dropped by just over 1%.
Foreclosure rates in Georgia and Michigan fell by less than 1%. The largest
drop by far for foreclosures was seen in Nevada which saw its foreclosure
rates plummet by nearly 7.5%. In comparison, Hawaii saw a significant increase
of over 5%.

Many individual cities also saw notable decreases in their levels of
foreclosures, including Salinas (almost 18%), Las Vegas (9.5%), Chicago (6%),
Detroit (4.3%), Atlanta (3.2%), Phoenix (1.6%), and Memphis (under 1%).
Montgomery, Alabama saw the highest increase in foreclosure rates among U. S.
cities with an increase of over 7%.

Home prices in many states and some big cities have also started to creep
upward. Increases of less than 1% have been seen in states such as California,
Georgia, and Texas while the prices rose by just over 1% in Florida and
Michigan. Housing prices average $64,000 in Ohio (the lowest average price in
the country) and $343,000 in California (the highest average price in the
country). Price increases have been seen in cities, including Miami (1.3%),
Las Vegas (1%), Orlando (1.3%), Phoenix (less than 1%), Atlanta (less than
1%), Denver (2.3%), and San Diego (less than 1%). The biggest jump in prices
was in Ridgefield, Connecticut where prices rose by more than 45%. However,
home prices in Sanibel, Florida fell by 25%.

More information: http://www.ForeclosureListings.com .

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SOURCE ForeclosureListings.com

Kevin Simpson of ForeclosureListings.com, +1-646-502-9455,
support@foreclosurelistings.com