Other cities with foreclosure rates among the nation's 20 highest were Atlanta at No. 7 (3.51 percent of housing units with a foreclosure filing), Chicago at No. 9 (3.31 percent), Rockford, Ill., at No. 10 (3.28 percent), Las Vegas at No. 16 (3.10 percent), and Phoenix at No. 17 (3.09 percent).
Best Places to Buy Foreclosures in 2013
To select the best places to buy foreclosures in 2013, RealtyTrac scored all metro areas with a population of 500,000 or more by summing up four numbers: months' supply of foreclosure inventory, percentage of foreclosure sales, foreclosure discount, and percentage increase in foreclosure activity in 2012.
Topping the list of best places to buy foreclosures in 2013 was the Palm Bay-Melbourne-Titusville metro area in Florida with a total score of 394: 34 months' supply of inventory, foreclosure sales representing 24 percent of all sales, average foreclosure discount of 28 percent, and a 308 percent increase in foreclosure activity in 2012 compared to 2011.
Five other Florida cities ranked among the Top 20 best places to buy foreclosures: Lakeland, Tampa, Jacksonville, Orlando, and Miami.
Five New York cities ranked among the 20 best places to buy foreclosures in 2013, based largely on big backlogs of foreclosure inventory and big increases in foreclosure activity in 2012: Rochester, Albany, New York, Poughkeepsie, and Syracuse.
Other cities in the Top 20 were Chicago, Ill.; El Paso, Texas; Philadelphia; Allentown, Pa.; Youngstown, Ohio; Bridgeport, Conn.; Cleveland, Ohio; New Haven, Conn.; and Indianapolis, Ind.
---------------------------------------------------------------------------- Foreclosure Avg Foreclosure Inventory Sales Pct Foreclosure Activity Total Months' of All Discount Annual PctMSA Score Supply Sales Pct Change----------------------------------------------------------------------------Palm Bay-Melbourne- Titusville, FL 394.11 34 23.81 28.05 308.71----------------------------------------------------------------------------Rochester, NY 239.32 78 3.16 25.78 132.61----------------------------------------------------------------------------Albany-Schenectady- Troy, NY 231.62 86 3.17 35.08 107.72----------------------------------------------------------------------------New York-Northern New Jersey-Long Island, NY-NJ-PA 172.85 97 7.70 40.35 27.91----------------------------------------------------------------------------Lakeland, FL 167.65 33 24.36 15.09 95.65----------------------------------------------------------------------------Tampa-St. Petersburg- Clearwater, FL 163.46 32 24.67 26.64 80.16----------------------------------------------------------------------------Jacksonville, FL 146.49 34 29.26 32.29 51.36----------------------------------------------------------------------------Poughkeepsie-Newburgh- Middletown, NY 143.07 92 6.59 28.35 16.51----------------------------------------------------------------------------Orlando-Kissimmee, FL 141.88 28 30.14 19.24 64.34----------------------------------------------------------------------------Chicago-Naperville- Joliet, IL-IN-WI 141.88 36 30.04 46.03 30.21----------------------------------------------------------------------------El Paso, TX 135.50 15 8.79 17.80 93.42----------------------------------------------------------------------------Miami-Fort Lauderdale- Pompano Beach, FL 124.43 29 28.70 30.58 36.17----------------------------------------------------------------------------Philadelphia-Camden- Wilmington, PA-NJ-DE- MD 124.30 42 11.91 43.17 27.01----------------------------------------------------------------------------Allentown-Bethlehem- Easton, PA-NJ 122.44 34 11.87 39.70 37.21----------------------------------------------------------------------------Youngstown-Warren- Boardman, OH-PA 122.21 61 13.61 32.63 15.32----------------------------------------------------------------------------Bridgeport-Stamford- Norwalk, CT 121.73 10 9.83 52.22 49.37----------------------------------------------------------------------------Syracuse, NY 119.48 39 1.60 21.25 57.40----------------------------------------------------------------------------Cleveland-Elyria- Mentor, OH 119.23 32 21.64 46.97 18.83----------------------------------------------------------------------------New Haven-Milford, CT 118.88 9 13.66 41.87 54.18----------------------------------------------------------------------------Indianapolis-Carmel, IN 118.63 26 18.97 35.51 38.04----------------------------------------------------------------------------
