Foreclosures spike in Vt. - WCAX.COM Local Vermont News, Weather and Sports-

Foreclosures spike in Vt.

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VERMONT -

Foreclosures are spiking in Vermont, but experts say they don't expect the trend to affect home prices.

As other states begin to rebound from the housing crisis, negative effects are beginning to ripple through Vermont.

In January, Vermont home sale prices went up six percent.

But in February, 159 foreclosure procedures began in the state.

Experts say it took longer for negative effects to reach smaller markets like Vermont following the housing bubble burst.

The foreclosure spike is expected to last for about a year.

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