Florida cities account for seven of top 10 metro foreclosure rates
Reporting one in every 219 housing units with a foreclosure filing in February, the Miami metro area posted the nation's highest foreclosure rate among metropolitan statistical areas with a population of 200,000 or more.
Six other Florida metro areas documented foreclosure rates in the top 10: Orlando at No. 2 (one in 225 housing units with a foreclosure filing); Ocala at No. 3 (one in 243 housing units); Tampa at No. 4 (one in 253 housing units); Palm Bay at No. 5 (one in 260 housing units); Jacksonville at No. 8 (one in 302 housing units); and Naples at No. 9 (one in 318 housing units). Foreclosure activity increased from a year ago in all seven Florida cities with top 10 metro foreclosure rates.
Other cities with foreclosure rates in the top 10 were Las Vegas at No. 6 (one in 283 housing units); Rockford, Ill., at No. 7 (one in 291 housing units); and Chicago at No. 10 (one in 331 housing units).
Five cities posted annual increases in foreclosure activity among the nation's 20 largest metropolitan areas in terms of population: Baltimore (up 145 percent), Seattle (up 129 percent), New York (up 44 percent), Tampa (up 24 percent), and Miami (up 20 percent).
Click here to learn about RealtyTrac's report methodology and to view detailed data by state.
The RealtyTrac U.S. Foreclosure Market Report is the result of a proprietary evaluation of information compiled by RealtyTrac; the report and any of the information in whole or in part can only be quoted, copied, published, re-published, distributed and/or re-distributed or used in any manner if the user specifically references RealtyTrac as the source for said report and/or any of the information set forth within the report.
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About RealtyTrac Inc.
RealtyTrac (www.realtytrac.com) is the leading supplier of U.S. real estate data, with more than 1.5 million active default, foreclosure auction and bank-owned properties, and more than 1 million active for-sale listings on its website, which also provides essential housing information for more than 100 million homes nationwide. This information includes property characteristics, tax assessor records, bankruptcy status and sales history, along with 20 categories of key housing-related facts provided by RealtyTrac's wholly-owned subsidiary, Homefacts®. RealtyTrac's foreclosure reports and other housing data are relied on by the Federal Reserve, U.S. Treasury Department, HUD, numerous state housing and banking departments, investment funds as well as millions of real estate professionals and consumers, to help evaluate housing trends and make informed decisions about real estate.
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