The Orlando area experienced a drop in year-over-year foreclosures last month, but the numbers in February are higher when compared with January of this year, reported RealtyTrac. The Irvine, Calif.-based online real estate company said the Orlando metropolitan statistical area — Lake, Orange, Osceola and Seminole counties — reported 6,823 foreclosure filings in February 2010, or one in every 132 homes, placing it 12th among metro areas with the largest foreclosures in the nation. That was an 11.3 percent drop from February 2009’s 7,690 filings, but an 8.6 percent jump from January 2010’s 6,282 fillings.
All four counties saw a higher number of filings in February 2010 compared with just one month prior, and Seminole County led the way with a nearly 18.5 percent jump and a 42.3 percent increase compared with February 2009. Seminole County posted 1,423 fillings in February 2010, compared with 1,201 in January 2010 and 1,000 in February 2009.
The other counties were as follows:
• Osceola County reported 1,053 filings last month, up 10.5 percent from January 2010’s 953 and down 33 percent from February 2009’s 1,572.
• Lake County reported 172 fillings last month, up 10.3 percent from January 2010’s 756 and down 10.3 percent from February 2009’s 930.
• Orange County reported 3,513 filings last month, up 4.2 percent from January 2010’s 3,372 and down 16.1 percent from February 2009’s 4,188.
Foreclosure activity in the Sunshine State rose nearly 15 percent in February over the previous month with the nation’s second-highest foreclosure total at 54,032 properties receiving a filling. Filings were up more than 16 percent from the year-earlier period. Nationwide, California continued to lead the way in foreclosure activity, with 68,562 properties receiving a foreclosure filing in February, while Arizona ranked second. Florida had the third highest foreclosure rate with one in every 163 homes receiving a filing.