Decrease in metro-area foreclosures may be a statistical glitch

04/30/2010 | CNNMoney

Foreclosure filings were down during the first quarter in 14 of the top 20 metro areas, according to a report released Thursday by RealtyTrac. The seemingly upbeat report, however, may have been a statistical glitch. "The decreasing foreclosure activity in some of the nation's top foreclosure hot spots in the first quarter is not a sure signal that those areas are out of the woods yet," said RealtyTrac CEO James Saccacio. Nationally, foreclosures were up 16% in the three months ended March 31.

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