Area foreclosures up 72 percent from last quarter

[Roland99]

http://louisville.bizjournals.com/louisville/stories/2006/11/06/daily36.html

The number of properties in some stage of foreclosure in the Louisville metro area in the third quarter was up 72 percent from the second quarter, according to figures from RealtyTrac Inc.

There were 1,837 local properties in foreclosure, or one property for every 268 households, according to the Irvine, Calif.-based foreclosure data publisher.

Nearby metropolitan areas fared better. Cincinnati's foreclosure growth rate was 30 percent, while Indianapolis and Nashville's rates actually fell, by 2.5 percent and 2.3 percent, respectively.

Nationally, more than 318,000 properties were in foreclosure, a 17 percent increase from the second quarter.

Good news for me if this keeps up (I'll be buying/building about this time next year) but horrible news for the area.