Foreclosure rates bucking the trend

Foreclosure rates bucking the trend
TRI-CITIES -- Foreclosures are dropping nationwide, but not in the Tri-Cities.

The national average has fallen about a quarter since this time last year. But here in the Tri-Cities the number is rising.

Last year we had around 400 notice of trustee sales-- an average of 33 a month. So far this year, we're averaging 57. Real-estate brokers say they aren't concerned.

"I think it's about normal. i think last year was probably a little slower. I think the banks held off on some foreclosure notices, so they've probably just picking back up to be a little more on the normal side," said broker Dave Retter.

Brokers say the sequester didn't affect real estate in our area. They also say this is a record year in terms of home sale for Tri-Cities.