Orlando is among the top 10 cities nationwide with the highest foreclosure rates for the first quarter of 2014, according to new data released Thursday by RealtyTrac, a leading source for comprehensive housing data.
With a foreclosure rate of one in every 120 housing units, Orlando nabs fourth place behind Port St. Lucie, which tops the list with one in every 99 housing units with a foreclosure filing. Miami takes the number two spot with one in every 106 housing units and Palm Bay-Melbourne-Titusville at number three, with one in every 112 housing units.
Other Florida cities among the top 10 cities nationwide with the highest foreclosure rates are: Tampa at No. 5, Lakeland at No. 6 and Jacksonville at No. 8.
Metro Orlando also led the nation in terms of foreclosure activity during March 2014, with foreclosure filings increasing by 13 percent compared to February, the RealtyTrac data also revealed. In Orlando, at least one foreclosure action was undertaken for every 326 houses.
Statewide, although Florida foreclosure activity was down 19 percent during the first quarter from one year ago, the state posted the nation’s highest foreclosure with one in every 129 housing units with a foreclosure filing.
In March, the sunshine state also led all other states with one foreclosure action for every 407 houses.
