Detroit Tops RealtyTrac Foreclosure List

Detroit, Ft. Lauderdale, Fla., and Denver posted the three highest U.S. metropolitan foreclosure rates in the third quarter, according to RealtyTrac, an online foreclosure marketplace based in Irvine, Calif.The company's Q3 2006 U.S. Metropolitan Foreclosure Market Report ranks the foreclosure rates of the nation's 100 largest metro areas. The foreclosure rates for the three cities were 1.249%, 1.138%, and 1.113%, respectively, the company reported. "The third quarter saw a marked increase in the number of properties entering some stage of foreclosure," said James J. Saccacio, RealtyTrac's chief executive officer. "It appears that a combination of factors, including a slowdown in home sales and lower home appreciation rates are contributing to higher numbers of delinquencies." The rest of the top 10 cities were as follows: Miami; Dallas; Indianapolis; Fort Worth, Texas; Atlanta; Las Vegas; and Memphis. RealtyTrac can be found online at http://www.realtytrac.com.