Birmingham metro foreclosure rate declines

 

The number residential properties in metro Birmingham that were entered into foreclosure proceedings during the first half of the year fell 27 percent compared to the same period a year before, according to a RealtyTrac report released today.

One in every 143 residential units in the Birmingham-Hoover metro area — or 3,544 units — received a foreclosure filing between January and the end of June, the report said. That’s a 27 drop from a year earlier and an 11 percent decline from the previous six months.

Birmingham’s market was in better shape than many. Nationwide, there were 1.2 million filings, or 1 for every 111 housing units.

The highest rate of foreclosures among metro areas in the first six months of the year was in Las Vegas, where one in every 19 residential units filed for foreclosure.

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