Foreclosure Hotbeds

Markets that once topped RealtyTrac’s lists for leading the nation in foreclosure starts now are topping Realtor.com’s quarterly ranking of towns that have lowered their inventories and raised median home values enough to qualify as top turnaround towns.

Detroit, Santa Barbara, Calif. and Reno, Nev. led the the nation in recovery in the third quarter of this year, as nationwide inventories of homes for sale shrunk and median list prices rose, according to the latest analysis from realtor.com.

Q3 2013 Ten Top Turnaround Towns

Q3 2013 Rank

Market
(Metropolitan Statistical Area)

Qtrly Year/Year Median List Price

Qtrly Year/Year Median Age of Inventory

Qtrly Year/Year Inventory

1

Detroit, MI

44.3%

-33.9%

-24.5%

2

Santa Barbara-Santa Maria-Lompoc, CA

27.1%

-36.3%

-15.9%

3

Reno, NV

28.2%

-30.4%

-19.8%

4

Fort Lauderdale, FL

15.8%

-35.0%

-13.8%

5

Ann Arbor, MI

15.2%

-28.8%

-13.5%

6

Dallas, TX

10.6%

-31.9%

-15.7%

7

West Palm Beach-Boca Raton, FL

17.4%

-21.8%

-20.7%

8

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