Increase and decrease in foreclosure activity among top 10 metro areas for foreclosure
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PrintIn the top 10 metro areas for foreclosures, some saw significant increase in foreclosure filings for the month of February, while others saw significant decrease in foreclosure activity for the month, according to a foreclosure tracking report.
Las Vegas metro area NV
According to RealtyTrac, the Las Vegas metro area documented the highest metro foreclosure rate, with one in every 90 housing units receiving a foreclosure filing during the month. However, Las Vegas saw a 9% decrease in foreclosure activity from January.
Phoenix AZ and California
In California and Arizona, which had six of the other metro areas in the top 10, also reported decreasing foreclosure activity from January. Phoenix Arizona recorded the biggest monthly decrease of nearly 18%.
Cape Coral Fort Myers and Port St. Lucie metro areas in Florida
The increase in foreclosure activity among the top 10 metro areas all occurred in Florida. The Cape Coral-Fort Myers metro area saw a 31% increase in foreclosure activity from the previous month, giving it the second highest metro foreclosure rate — one in every 92 housing units receiving a foreclosure filing. An increase of nearly 66% in foreclosure activity from the previous month helped boost the foreclosure rate in Port St. Lucie to sixth highest.
Metro areas in the Sun Belt states of Nevada, Florida, California and Arizona continued to dominate the top 10 highest foreclosure rates among metropolitan areas with a population of 200,000 or more.
