This month's Pro Teck Valuation Services Home Value Forecast explores the impact foreclosures have on the nation's top housing markets.

Traditionally, foreclosures as a percentage of market sales on a healthy market will be 3-5%, anything over 10% will have a marked effect on price appreciation.

As the hottest housing market in the U.S., according to Pro Teck's Top Ten, Reno, NV boasts a foreclosure sales as a percent of market sales of .46%. Conversely, the 25^th ranked housing market in the U.S., Columbus, OH, has a foreclosure rate of around 8.97%, much higher than Reno.

Foreclosures in both markets is having a marked, but different, effect on price appreciation in both markets — Columbus has seen a 8.57% yearly increase compared to 16.13% for Reno.

"Think of foreclosure sales as an anchor that can slow down the recovery of a market," said Tom O'Grady, CEO of Pro Teck. "Because foreclosed properties sell for less, they can impact market sales if they become a large enough part of the housing inventory."