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Local foreclosures slowed in third quarter

Local foreclosures slowed in third quarter

The spread of foreclosures slowed in the Capital Region over the summer, but the number of local hom

The spread of foreclosures slowed in the Capital Region over the summer, but the number of local homes seized by lenders remained high above the previous year’s levels.

After rapidly gaining momentum through the first half of the year, the pace of homes entering various stages of foreclosure in the five-county region around Albany ended the third quarter at 553. That marked a 47.9 percent drop from the 1,062 homes in foreclosure during the previous period, but it was up 138.3 percent from a year earlier, according to statistics released today by Realtytrac.com, an Irvine, Calif., foreclosure tracking firm.

The decline pushed the Capital Region down on RealtyTrac.com’s Top 100 U.S. Metro Foreclosure list to the 96th slot from 76th for the second quarter. During the three-month period ended Sept. 30,, only 0.15 percent of area homes were in foreclosure.

Stockton, Calif. topped RealtryTrac.com’s list with 3.69 percent of homes in foreclosure.

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