Apr
23
The Memphis market ranked No. 43 in foreclosure rate among U.S. metro areas with a population of more than 200,000, according to a first quarter report by RealtyTrac Inc.
The area, which includes parts of Mississippi and Arkansas, had 0.85 percent of its housing inventory receive a foreclosure filing — including default notices, auction sale notices and bank repossessions — during the quarter.
In the Memphis metro area, there were 4,638 filings for the first quarter, or one per 118 households.
This was a 14.1 percent increase compared to fourth quarter 2008, but a 6 percent decrease compared to first quarter 2008, when the city’s metro area ranked No. 20 in U.S. metro foreclosure rate.
Las Vegas led the nation with 4.4 percent of its housing inventory receiving a foreclosure filing. Burlington, Vt., ranked last, No. 203, with 0.01 percent of its housing receiving filings.
The national average was 0.63 percent.
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