The Orlando area experienced a 76 percent jump in mid-year foreclosures when compared to the same period a year ago, according to RealtyTrac.
One in every 23 homes in the Orlando area, or 4.28 percent of all households, reported a foreclosure filing in the first half of the year, including a notice of default, notice of auction or bank repossession. The market had the 10th highest rate among the nation’s largest metro areas.
The Las Vegas area recorded the highest foreclosure rate, with one in every 13 homes, or 7.5 percent of all homes, receiving a filing. Burlington, Vt., recorded the lowest rate with only one in every 8,066 homes, or 0.01 percent, receiving a filing.
The Orlando area also posted 37,801 foreclosure filings, the eighth highest among the 203 metro areas included in the report.
The Daytona Beach area was 19th on the list, with one in every 37 homes, or nearly 2.7 percent of all homes, reported a foreclosure in the first part of the year. The Daytona area reported 6,635 foreclosure filings in that period.
Six Florida areas were among the top 20 metro areas to see the highest foreclosure rate in the first part of the year, led by the Fort Myers area with one in every 14 homes, or 7.2 percent of all homes, reporting a foreclosure filing. The Fort Myers area also had a total of 25,926 fillings in the first six months of this year.
The RealtyTrac U.S. Foreclosure Market Report provides the total number of properties with at least one foreclosure filing reported between January-June of this year. Data is collected from more than 2,200 counties nationwide, accounting for more than 90 percent of the U.S. population. If more than one foreclosure document is filed against a property during the period, only the most recent filing is counted in the report.
Source: Orlando Business Journal
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