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Foreclosures ‘Steady’ into Next Year says Market Watcher

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Getty/Paul Richards

Getty/Paul Richards

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ST. LOUIS (KMOX) - Prices on foreclosed homes in the St. Louis area continue to increase quarter to quarter. The second quarter saw an 8% increase over the first quarter and a 9% jump from a year ago.

Vice President of “Realtytrac” Darren Blomquist says the supply however has gone down.

“There are actually fewer of these foreclosure properties that are selling because of a more limited inventory of foreclosures that are listed by the banks.” said  Blomquist.

Part of that slow down is due to government intervention that has slowed the paper work.

Because of that, he says, there will be a steady pace of foreclosures all the way into spring.

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