Top Foreclosure Markets
Top Ten Foreclosure Markets in the U.S

Greeley, Colorado-The median home price in Greeley is $163,700, and the portion of houses in foreclosure is 0.59%, which has grown 14.7% since January of this year. Sluggish wages as well as a high amount of residential development and risky loans that have been offered to many residents are the reasons for Greeley’s foreclosure rate (which is 7 times the national average).

Detroit, Michigan-The average home price in Detroit is $118,800 with 0.51% of households in foreclosure. The foreclosure market has increased an astonishing 81.7% since January 2007, many believe because of the sluggishness of the auto industry. Ford Auto Company, which provides many of Detroit’s jobs, reported a loss for the first quarter of the year, which could lead to even more foreclosures if the company cuts jobs.

Miami, Florida- The median home price in Miami is $349,900 with the foreclosure rate being .037%. Miami’s foreclosure rate has risen 91.7% since January for several different reasons. A slowing economy, rises in the property insurance premiums, interest rates and energy prices all lead to the increasing foreclosure rates.

Indianapolis, Indiana- The average home price in Indianapolis is $123,000 and the foreclosure rate is 0.35%. The amazing part about Indianapolis is that the foreclosure rate has actually decreased since January by 16.3%, but it is still one of the worst in the nation. Indianapolis is a big automotive supplier, and with the problems that the automotive industry has suffered over the past year, the economy is slow. Falling home prices have also made houses difficult to unload in the city, also leading to more foreclosures.

Fort Lauderdale, Florida- The median home price in Fort Lauderdale is $360,800, with a foreclosure rate of 0.34%. Fort Lauderdale’s foreclosure rate has risen an incredible 118.5% since this January. The steep prices of houses in Fort Lauderdale make many hard to sell, especially with the economy in a slump.

Denver, Colorado- The average home price in Denver is $246,300 with a foreclosure rate of 0.33%. The foreclosure rate has increased just 9.2% since January, but the city is still above the national average. While this city is booming, layoffs from the telecommunications industry and the amazing amount of houses that have been built over the past few years make it difficult for homeowners to sell their houses.

Dayton, Ohio- The median home price in Dayton is $117,400, and the foreclosure rate is 0.33%, having risen 12.6% since January. Subprime and ARM lending have caused the majority of foreclosures in Ohio because of lax state laws regarding lending.

Dallas, Texas-The average price of housing in Dallas is $156,100 and the foreclosure rate is 0.31%. The foreclosure rate is actually down from last year, by 34.4%, but the city still struggles with foreclosures especially because of the growth the city has experienced in the past few years. Homeowners are struggling to sell their homes when there are so many brand new ones available.

Fort Worth, Texas-The average home price in Fort Worth is $125,900 with a foreclosure rate of 0.31%. Like Dallas, the foreclosure rate has decreased from last year by 13.4%. Stagnant income and the rise of property taxes in the area have contributed to the foreclosure rate in Fort Worth.

Atlanta, Georgia-The median home price in Atlanta is $166,800 with the foreclosure rate being 0.30%. The foreclosure rate in Atlanta has fallen since last year by 28%. Constantly changing interest rates on ARM loans, along with layoffs and pension plan cuts have led to foreclosures in the Atlanta market.