5 Cities That Aren't Seeing a Housing Recovery
No. 1 lagging market: Baltimore
The only "more" in Baltimore's housing market these days seems to be more foreclosure filings.
RealtyTrac's study found that filings fell by a below-average 26% from their peak as of June -- and things have actually gotten worse since then.Filings rebounded during the third quarter to hit 6,084, or triple the number recorded during the same period last year. "That's one of the biggest red flags of a market that's lagging the recovery," says Blomquist, who notes that 70% of U.S. metro areas saw third-quarter foreclosure filings fall rather than rise on a year-over-year basis. Adding to the Charm City housing market's lack of charm is that fact that median Baltimore home prices have recovered just 9% since bottoming out in March. Again, that's less than half of the 19% average U.S. rebound.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts