Although the credit crisis took a toll on the entire US economy, some towns and cities have been hit significantly harder than others, plagued by foreclosures and dropping home values.
While most of these cites – centered in California, Nevada and Florida - remain in bad shape, there are signs that some of these foreclosure “ghost towns” are experiencing price stability, and even coming back to life.
Real estate website Zillow.comnoticed trends in their third quarter data, with many of the most hard-hit US foreclosure capitals experiencing price growth and a decelerating rate of new foreclosures, compared to the past two years. Although these markets may remain relatively flat, the upward trajectory they’ve seen over the past year suggest that better times may be ahead.
So, which foreclosure “ghost towns” are seeing signs of life? Click ahead to find out!
By Paul Toscano
Posted 17 Nov 2010