Business, Economics and Jobs

Foreclosures: The 10 best cities to buy homes

July 31, 2016

By Business InsiderMamta Badkar, Business Insider

Clouds pass over the San Francisco skyline on November 4, 2011 in Sausalito, California. San Francisco made Realtytrac’s list of ten best places to buy foreclosed homes.
Justin Sullivan

As many as 1.25 million foreclosed homes are expected to enter the market in 2012 as the foreclosure probes end.

This tidal wave of foreclosures would give opportunists the chance to get great deals on foreclosed homes.

RealtyTrac is out with its report on the 10 best places to buy foreclosures in 2012. To draw up the list RealtyTrac considered the 100 largest metro areas with at least 200 foreclosure sale transactions in January 2012.

Note: The list only includes metros where the average foreclosure sales price was at least 30 percent below the average price of a non-foreclosure home. RealtyTrac also considered unemployment and sales prices in drawing up the list.

Columbus, Ohio

Average foreclosure discount:
31.88%

Average sales price:
$98,223

January 2012 foreclosure sales:
323

Percent of all sales:
21.32 percent%

Source: RealtyTrac

Seattle, Washington

Average foreclosure discount:
34.64%

Average sales price:
$212,565

January 2012 foreclosure sales:
988

Percent of all sales:
33.56%

Source: RealtyTrac

Tucson, Arizona

Average foreclosure discount:
34.72%

Average sales price:
$112,660

January 2012 foreclosure sales:
632

Percent of all sales:
43.20%

Source: RealtyTrac

Charlotte, North Carolina

Average foreclosure discount:
37.56%

Average sales price:
$118,808

January 2012 foreclosure sales:
303

Percent of all sales:
15.85%

Source: RealtyTrac

Cape Coral-Fort Myers, Florida

Average foreclosure discount:
37.77%

Average sales price:
$102,022

January 2012 foreclosure sales:
606

Percent of all sales:
27.01%

Source: RealtyTrac

San Francisco, California

Average foreclosure discount:
38.05%

Average sales price:
$307,803

January 2012 foreclosure sales:
1,995

Percent of all sales:
47.48%

Source: RealtyTrac

Tulsa, Oklahoma

Average foreclosure discount:
38.30%

Average sales price:
$86,725

January 2012 foreclosure sales:
211

Percent of all sales:
22.79%

Source: RealtyTrac

Pittsburgh, Pennsylvania

Average foreclosure discount:
47.95%

Average sales price:
$73,142

January 2012 foreclosure sales:
274

Percent of all sales:
15.33%

Source: RealtyTrac

Boston, Massachusetts

Average foreclosure discount:
48.58%

Average sales price:
$195,672

January 2012 foreclosure sales:
512

Percent of all sales:
18.22%

Source: RealtyTrac

Kansas City, Missouri

Average foreclosure discount:
51.18%

Average sales price:
$73,257

January 2012 foreclosure sales:
353

Percent of all sales:
28.72%

Source: RealtyTrac

20 American Cities That Are Getting Crushed By Foreclosures >

More from our partners at Business Insider:

Inside Osama Bin Laden's Explosive Last Letters: Assassinate Obama, Promote The 'Utterly Unprepared' Biden

These Are The 20 Strongest Banks In The World

The Infamous Sotheby's Chart

Liquidmetal Inventor: Apple Will Use It In A 'Breakthrough Product'

Here Are The Juiciest Excerpts From The Journal Of Barack Obama's Ex-Girlfriend

Will you support The World with a monthly donation?

Every day, reporters and producers at The World are hard at work bringing you human-centered news from across the globe. But we can’t do it without you. We need your support to ensure we can continue this work for another year.

Make a gift today, and you’ll help us unlock a matching gift of $67,000!