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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
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
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV