Four other Florida cities joined Miami to round out the top five metro foreclosure rates in the first half of 2013: Orlando at No. 2 (1.94 percent of housing units with a foreclosure filing); Jacksonville at No. 3 (1.91 percent); Ocala at No. 4 (1.85 percent); and Tampa at No. 5 (1.74 percent). Florida cities accounted for a total of 12 of the top 20 metro foreclosure rates.
Metros outside of Florida with foreclosure rates in the 20 highest nationwide were Rockford, Ill., at No. 6 (1.73 percent of housing units with a foreclosure filing); Las Vegas at No. 8 (1.59 percent); Chicago at No. 9 (1.52 percent); Akron, Ohio at No. 12 (1.32 percent); Columbus, Ohio at No. 14 (1.22 percent); Stockton, Calif., at No. 17 (1.16 percent); Atlanta at No. 18 (1.11 percent); and Cleveland at No. 19 (1.09 percent).
Foreclosure process lengthens nationwide,
U.S. properties foreclosed in the second quarter of 2013 were in the foreclosure process an average of 526 days from the initial public foreclosure notice to the completed foreclosure, up 10 percent from 477 days in the first quarter.
The average time to foreclose was 1,033 days in both New York and New Jersey -- the longest among the states. New York's timeline was down 2 percent from the previous quarter while New Jersey's timeline increased 3 percent. Other states with the longest average foreclosure timelines were Florida (907 days), Hawaii (824 days) and Illinois (817 days).
The average time to foreclose was 184 days in Virginia, the shortest of any state. Other states with average foreclosure timelines below the national average included Texas (209 days), Minnesota (239 days), Georgia (240 days), and Arizona (255 days).
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.
Data Licensing and Custom Report Order
Investors, businesses and government institutions can contact RealtyTrac to license bulk foreclosure and neighborhood data or purchase customized reports. For more information contact our Data Licensing Department at 800.462.5193 or firstname.lastname@example.org.
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.
Embedded Video Available
Embedded Video Available: http://www2.marketwire.com/mw/frame_mw?attachid=2355278
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2355280
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2355265
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2355274
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2355269
Most Popular Stories
- Slow Week Ahead of December FOMC Meeting
- Hispanics Seek to Grow School Board Members
- GM Bailout Saved 1.2 Million U.S. Jobs, Report Says
- 'Knockout Game': Myth or Menace?
- Questions Remain in Jenni Rivera's Death
- Bitcoin Used to Buy Tesla Car
- Banks Fret as Volcker Vote Approaches
- Paul Walker Fans Pay Respects
- 18 L.A. Sheriff's Deputies Face U.S. Charges
- Yellen Set to Become One of World's Most Powerful Women