Third quarter 2009 saw foreclosure activity in San Diego and some other major cities decline, while other areas in the country are seeing foreclosure activity on the rise, according to RealtyTrac's Metropolitan Foreclosure Market Report. This is, presumably, because the initial wave of foreclosures was due to sub-prime loans resetting; today's wave is more affected by unemployment and the struggling economy as a whole. Foreclosure activity is up in places like Salt Lake City,UT; Chico,CA; and Prescott, AZ.
While San Diego still has the 20th highest percentage of homes in distress in the country, the number was down 5.1% from the second quarter.
Cities that are definitely hurting are Las Vegas (5.13 percent of households received foreclosure filings and it has the highest number of foreclosures in the country), Reno (with foreclosures up 80% from a year ago), San Bernadino/Riverside, and Bakersfield, CA.