Atlanta Foreclosure Report: January 2010
2009 was a record setting year in Metro Atlanta with 117,107 published foreclosure notices.
And the 2010 outlook doesn't look promising as the economy and job market continues to show signs of weakness.
But with just 8,181 foreclosure notices filed in Janaury 2010 we're able to breathe a small sigh of relief. Surprisingly, we saw the first January-to-January decline in 10 years. So what is the can this decline be attributed to? Likely a combination of several factors, not the least of which being that we are finally seeing fall out from the "subprime" crisis getting cleaned up.
But it's far too early to predict how the year will go from here. With many banks slowing the pace of foreclosure through the Holiday season -- it's possible this is just a seasonal dip and the relentless pace of 2009 will continue as we head into the spring in summer season.
So how did the 8,000+ foreclosure notices fall county-to-county? Fulton County led the pack with 1,716, followed by Gwinnett with 1,617. Dekalb followed with 1,230, Cobb had 870 and Clayton 673.