Home foreclosure activity in the Toledo area during the first quarter decreased from the previous quarter and from the same period a year ago, bucking a national trend of rising foreclosure-related actions, a report released today indicated.
Between January and March, 1,511 homes were in some stage of the foreclosure process in metro Toledo, down 25 percent from last year's fourth quarter and down 6.8 percent from the first quarter a year ago, according to RealtyTrac, a real estate data firm in Irvine, Calif.
One of every 199 housing units locally had either received a notice of default or default pending or a notice of trustee sale or foreclosure sale, or had been foreclosed and repurchased by a bank, according to the report by RealtyTrac.
Toledo ranked 64th in foreclosure activity out of the nation's 212 metro areas whose populations are 200,000 or more.
Among other Ohio cities, Columbus was 48th with one for every 166 housing units; Canton, 50th with one for every 171; Cleveland, 60th with one for every 191; Akron, 66th with one for every 205; Cincinnati, 74th with one for every 226; Dayton, 91st with one for every 261, and Youngstown, 94th with one for every 266.
Stockton, Calif., had the highest foreclosure rate of any metro area, with one of every 60 housing units in some stage of the foreclosure process.
RealtyTrac said that nationwide foreclosure activity rose in the first quarter from the fourth quarter in 114 of the 212 largest metro areas. In the 50 largest metro areas, first-quarter foreclosure activity increased in 26 of those areas from the fourth quarter.
However, foreclosure activity was down in the first quarter compared to a year ago in 135 of the 212 metro areas studied by RealtyTrac. Out of the 50 largest metro areas, foreclosure activity was down in 33 of them compared to a year ago.