Atlanta had the third-highest number of foreclosures in the first half of 2007, according to RealtyTrac's 2007 Midyear Metropolitan Foreclosure Market Report.
Atlanta's total of 36,502 foreclosure filings on 22,412 properties was the third-highest among the 100 top metro areas, the report shows. The number of properties with foreclosure filings during the first half of 2007 increased 17 percent from the first half of 2006, and the city's foreclosure rate of one foreclosure filing for every 54 households ranked No. 12.
Only Riverside-San Bernardino, Calif., and Los Angeles had more filings. Following Atlanta were Chicago, Detroit, Denver, Dallas, Las Vegas, Phoenix and Sacramento.
"While foreclosure activity has skyrocketed over the past year in many cities, particularly in California, Ohio and the Northeast, foreclosure activity seems to be subsiding in parts of Texas, South Carolina and other states," said James J. Saccacio, CEO of RealtyTrac. "Still, the overall trend is toward escalating foreclosure rates, with 82 of the top 100 metro areas reporting year-over-year increases in the number of homes affected by foreclosure.
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