Number of Home Foreclosures Decreases With Uneven Recovery in Cuyahoga County
A new report by the Western Reserve Land Conservancy shows the number of home foreclosures in Cuyahoga County continues to drop.
Property values in the county peaked in 2006 and then plummeted due to the effects of the recession.
The report also shows that recovery in the housing market has occurred at an uneven rate, especially in Cleveland’s east side.
Frank Ford, the conservancy’s senior policy advisor, says despite irregular recovery, many of the county’s cities and neighborhoods are seeing positive momentum.
“The good news overall is [that] property values are no longer declining and they are on the way back pretty much everywhere, even in the hardest hit neighborhood,” Ford said.
Ford also says some of the biggest factors playing into uneven recovery in Cuyahoga County are vacant and blighted homes.