Orlando Leads The State With The Highest Number Of Foreclosures

According to ForeclosureConnections, Florida has witnessed a 200% increase in foreclosures for sale from Jan-March of this year, while foreclosures in Orlando have increased in count by almost 250% during the same period.

Orlando stood 13th in the foreclosure list for the top 100 metro areas across US. Fort Lauderdale foreclosures stood at 8th position for first quarter. While most of the top 10 cities were from California, Stockton took the #1 spot for highest number of foreclosed homes with one foreclosure being reported for every 30 Stockton households. This figure is 6.6 times the nationwide average.

Orlando has 10,522 foreclosures during the first quarter with one foreclosure for every 88 Orlando household. The good thing was from Jan to March, the foreclosure rate was 48% more than Oct-December 2007, but more than almost 250% higher than the rate during the first quarter of 2007. Due to the rising number of bank foreclosures, government tax foreclosures etc in Florida, the state was placed amongst the top 5 on the foreclosures by state list for the first half of the year. Other Florida cities that have also found place within the top 20 for highest foreclosure rates include Miami with 11,703 or one foreclosure per 81 households and ranked at #14th; and Sarasota ranked at #15 with 4,299 or one foreclosure per 89 Sarasota households.

In Florida the foreclosure filings during the first quarter of the year were the second highest for any state nationwide and contributed to Florida being the state with the 4th highest rate of foreclosure. Other states in the top 10 for highest foreclosure rates were Georgia, Michigan, Ohio, Massachusetts and Connecticut.