Submitted by Anonymous on Wed, 10/31/2007 - 17:55.
Atlanta housing trends: Atlanta beats Phoenix for foreclosures
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Atlanta and Phoenix have been rivals for the distinction of being the top U.S. home-building market for the past several years. Atlanta has held the title more than Phoenix, particularly in the past year.
But now Atlanta also has Phoenix beat for foreclosures. So far this month, more than $1 billion in homes have fallen into foreclosure in metro Atlanta, according to the data firm Equity Depot.
Metro Phoenix is at a 15-year high for foreclosures, but the value of the properties going into foreclosure last month and during October is well below $1 million.
And the Valley's median home price is $40,000 higher than Atlanta's, so it's not because the Georgia city has pricier foreclosures driving up the total.
Source: http://www.azcentral.com/arizonarepublic/ business/articles/1028biz-catherine1028.html
But now Atlanta also has Phoenix beat for foreclosures. So far this month, more than $1 billion in homes have fallen into foreclosure in metro Atlanta, according to the data firm Equity Depot.
Metro Phoenix is at a 15-year high for foreclosures, but the value of the properties going into foreclosure last month and during October is well below $1 million.
And the Valley's median home price is $40,000 higher than Atlanta's, so it's not because the Georgia city has pricier foreclosures driving up the total.
Source: http://www.azcentral.com/arizonarepublic/ business/articles/1028biz-catherine1028.html
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