Florida and California hurt in 2009
In 2009, RealtyTrac reports that Las Vegas had the largest number of foreclosure filings with 12.04% of homes under filing- more than five times the national average with Cape Coral, Florida close behind at 11.9%. Nationwide, foreclosures grew 21.2% during the year. The bulk of the areas with the highest foreclosure rates were in Florida and California.
“While it was expected that cities from states with the highest levels of foreclosure activity would top the charts, there is evidence that we’re entering a new wave of foreclosures, driven more by unemployment and economic hardship than what we’ve seen over the past few years,” said James J. Saccacio, CEO of RealtyTrac. “Areas like Provo, Utah, Fayetteville, Ark., Portland, Ore., and Rockford, Ill., all posted foreclosure rates above the U.S. average in 2009. And markets like Honolulu, Minneapolis and Seattle saw foreclosure activity increase at more than twice the national pace over the past 12 months — although all three of those markets still had 2009 foreclosure rates that were at or below the U.S. average.”
Properties With Foreclosure Filings (Top 10 of 2009)
- Las Vegas, NV- 12.04%
- Cape Coral- Fort Myers, FL- 11.87%
- Merced, CA- 10.10%
- Riverside-San Bernadino-Ontario, CA- 8.80%
- Stockton, CA- 8.62%
- Modesto, CA- 8.53%
- Orlando-Kissimmee, FL- 8.17%
- Phoenix-Mesa-Scottsdale, AZ- 8.03%
- Port St. Lucie, FL- 7.58%
- Miami-Fort Lauderdale- Pompano Beach, FL- 7.16%
