IRVINE, Calif. – Nov. 13, 2014 – In October, Florida was no longer at the top of the list for foreclosures, according to the latest RealtyTrac U.S. Foreclosure Market Report for October 2014.

In Maryland, 5,943 Maryland properties had a foreclosure filing for the month – a 68 percent jump from the previous month and up 30 percent year-to-year – and bumping it from the No. 1 position that Florida held one month earlier.

The Florida foreclosure rate (one in every 444 housing units with a filing) ranked second highest among the states. Florida foreclosure activity in October was down 2 percent from the previous month and down 25 percent year-to-year. It's the 15th consecutive month Florida has had a year-to-year decrease.

In a look at metro areas (metropolitan statistical areas or MSAs), four Florida cities made the top five list:

1. Miami posted the highest U.S. foreclosure rate for areas with a population of 200,000 or more, increasing 11 percent from the previous month thanks to a 67 percent monthly spike in foreclosure starts, though Miami foreclosures declined 27 percent year-to-year.

2. Orlando foreclosure activity decreased both annually (13 percent) and monthly (15 percent); however, its foreclosure rate still ranked second highest nationwide. One in every 394 housing units in Orlando had a foreclosure filing in October, nearly three times the national average.

3. Despite a 23 percent year-over-year decrease in foreclosure activity, Tampa posted the nation's third highest metro foreclosure rate in October: one in every 395 housing units with a foreclosure filing.

4. Foreclosure activity also decreased from a year ago in Jacksonville (37 percent), but it still had the nation's fourth highest metro foreclosure rate (one in every 433 housing units with a foreclosure filing)

5. Foreclosure activity increased 13 percent from a year ago in Baltimore, Md. – the nation's fifth highest metro foreclosure rate (one in every 435 housing units with a foreclosure filing

 

Reprinted with permission. Florida Realtors®. All rights reserved