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.

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