SALT LAKE CITY -- Salt Lake City has posted one of the nation's biggest drops in foreclosure activity so far this year.
Data released Thursday by RealtyTrac shows Salt Lake City's foreclosure rate fell 22 percent in the first three months of 2012, compared with the quarter earlier. That's the fourth most dramatic drop among the 50 largest metro areas in the country, and puts the city behind Portland, Ore., Las Vegas, and Providence, R.I.
The decrease is part of a lengthier trend. The Utah capital's first quarter foreclosure rate is down 49 percent compared with the first quarter of 2011.
One in every 163 housing units in Salt Lake City saw a foreclosure filing between January and March.