20 Cities Likely to See Surging Foreclosure Sales in 2013

20 Cities Likely to See Surging Foreclosure Sales in 2013Overall, foreclosures across the country decreased in 2012, partly a symptom of ongoing federal and state investigations into improper procedures.
But many metro areas saw rebounds in foreclosure starts and completions, also referred to as REOs (real estate owned) properties.
According to RealtyTrac, these cities should see an increase in the number of foreclosures for sale in 2013 — either as short sales or bank-owned homes.
RealtyTrac’s formula: these 20 cities will see a jump in foreclosure homes listed for sale because they each went through at least a 20 increase in foreclosure starts and REOs combined in 2012. All of these metro areas had at least 2,000 foreclosure starts and REOs combined in through November.
A higher foreclosure inventory in these cities is good news for buyers and investors seeking bargains. But overall home values could be affected as foreclosure sales drag down overall home prices.
Here are the 20 cities:
20 Cities Likely to See Surging Foreclosure Sales in 2013

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