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Old 01-28-2010, 01:50 PM
 
20,273 posts, read 29,860,132 times
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Here is the report:

LAS VEGAS, CAPE CORAL, MERCED FORECLOSURE ACTIVITY RATES HIGHEST AMONG MAJOR METRO AREAS IN 2009

0.83% of Pittsburgh Metro housing units had a foreclosure filing in 2009, which was good for #156 out of 203, and all the metros with lower rates were also considerably smaller than Pittsburgh. The national average rate was 2.21%, or almost three times the Pittsburgh Metro rate. The top of the list is dominated by Sun Belt metros in California, Florida, Nevada, and Arizona. Cleveland and Columbus were at #59 (2.38) and #60 (2.29) respectively. Baltimore and Philadelphia were at #108 (1.36) and #113 (1.30) respectively.

None of this is particularly surprising: the Pittsburgh Metro didn't participate in the housing boom and so hasn't participated in the housing bust, and meanwhile has done relatively well in terms of unemployment, and in general housing costs are relatively low here. Nonetheless, 2009 foreclosure filings even in Pittsburgh were more than double their 2007 rate, although less than their 2008 rate.
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