10 Cities Where Distressed Houses Will Be Flooding The Market For Years

Los Angeles

[credit provider=”Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:Downtown_Los_Angeles_skyline2.jpg”]

Many cities in the U.S. are facing a multi-year backlog of distressed homes that will weigh on house prices, according to new data from CoreLogic. That data shows that in 25 of the top real estate markets, 10 have a backup of nearly two years or more.Their research shows that while home prices may be rising in some places, or at least stabilizing, there’s plenty of supply out there ready to keep prices depressed for years to come.

Further, the negative equity levels, or how underwater people are on their mortgages, is staggering in many states making it even harder for home owners to move on from their investments.

[slideshow]
[slide
permalink=”10-baltimore-towson-1″
title=”#10 Baltimore-Towson”
content=”Supply of distressed homes: 23.5 months

House price index (year-over-year): Down 5.9%

Negative equity share: 18.5%

Source: CoreLogic

All data current as of January 2011, months of supply of distressed homes estimated at current sales rate
image=”http://static.businessinsider.com/image/4c3cb13b7f8b9a28651b0200/image.jpg”
caption=””
credit=””
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[slide
permalink=”9-new-york-white-plains-wayne-2″
title=”#9 New York-White Plains-Wayne”
content=”Supply of distressed homes: 23.6 months

House price index (year-over-year): Up 2.1%

Negative equity share: 11.2%

Source: CoreLogic

All data current as of January 2011, months of supply of distressed homes estimated at current sales rate
image=”http://static.businessinsider.com/image/4b1530e5000000000074492e/image.jpg”
caption=””
credit=””
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[slide
permalink=”8-orlando-kissimmee-sanford-3″
title=”#8 Orlando-Kissimmee-Sanford”
content=”Supply of distressed homes: 24.1 months

House price index (year-over-year): Down 10.9%

Negative equity share: 55.4%

Source: CoreLogic

All data current as of January 2011, months of supply of distressed homes estimated at current sales rate
image=”http://static.businessinsider.com/image/4ba232157f8b9a9556770700/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”7-tampa-st-petersburg-clearwater-4″
title=”#7 Tampa-St Petersburg-Clearwater”
content=”Supply of distressed homes: 25.1 months

House price index (year-over-year): Down 9.2%

Negative equity share: 48.4%

Source: CoreLogic

All data current as of January 2011, months of supply of distressed homes estimated at current sales rate
image=”http://static.businessinsider.com/image/4b216bd4000000000098992b/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”6-warren-troy-farmington-hills-5″
title=”#6 Warren-Troy-Farmington Hills”
content=”Supply of distressed homes: 25.2 months

House price index (year-over-year): Down 2.9%

Negative equity share: 42.7%

Source: CoreLogic

All data current as of January 2011, months of supply of distressed homes estimated at current sales rate
image=”http://static.businessinsider.com/image/4dd69a1249e2ae802e0b0000/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”5-los-angeles-long-beach-glendale-6″
title=”#5 Los Angeles-Long Beach-Glendale”
content=”Supply of distressed homes: 25.7 months

House price index (year-over-year): Down 4.1%

Negative equity share: 24.6%

Source: CoreLogic

All data current as of January 2011, months of supply of distressed homes estimated at current sales rate
image=”http://static.businessinsider.com/image/4dc456504bd7c86212110000/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”4-minneapolis-st-paul-bloomington-7″
title=”#4 Minneapolis-St Paul-Bloomington”
content=”Supply of distressed homes: 26.6 months

House price index (year-over-year): Down 5.7%

Negative equity share: 16.9%

Source: CoreLogic

All data current as of January 2011, months of supply of distressed homes estimated at current sales rate
image=”http://static.businessinsider.com/image/4aee5d640000000000945b41/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”3-edison-new-brunswick-8″
title=”#3 Edison-New Brunswick”
content=”Supply of distressed homes: 28.5 months

House price index (year-over-year): Down 1.0%

Negative equity share: 12.8%

Source: CoreLogic

All data current as of January 2011, months of supply of distressed homes estimated at current sales rate
image=”http://static.businessinsider.com/image/4c3342f17f8b9a6542100400/image.jpg”
caption=””
credit=””
credit_href=””
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[slide
permalink=”2-washington-arlington-alexandria-9″
title=”#2 Washington-Arlington-Alexandria”
content=”Supply of distressed homes: 35.6 months

House price index (year-over-year): Down 3.5%

Negative equity share: 29.3%

Source: CoreLogic

All data current as of January 2011, months of supply of distressed homes estimated at current sales rate
image=”http://static.businessinsider.com/image/4cfd41a3ccd1d56f6a010000/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”1-chicago-joliet-naperville-10″
title=”#1 Chicago-Joliet-Naperville”
content=”Supply of distressed homes: 44.8 months

House price index (year-over-year): Down 5.7%

Negative equity share: 24.8%

Source: CoreLogic

All data current as of January 2011, months of supply of distressed homes estimated at current sales rate
image=”http://static.businessinsider.com/image/4daf56b04bd7c87f1d170000/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”and-what-states-are-in-the-worst-shape-11″
title=”And what states are in the worst shape?”
content=”Check out the 10 states where distressed homes will be flooding the market for years >
image=”http://static.businessinsider.com/image/4dd4fa4449e2ae4477300000/image.jpg”
caption=””
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credit_href=””
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[/slideshow]