Foreclosures, REO properties still permeate local market

Published May 9, 2010 4:00am ET



Foreclosures are ticking up and the area housing market is still saturated with bank-owned properties, despite an apparent budding recovery from the throes of the housing crisis.

Locally, sales and prices for both new and existing homes were up in the first quarter compared to a year ago, according to a report released last month by Metropolitan Regional Information Statistics and Delta Associates.

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