Foreclosures in the Orlando market fell 18 percent in January when compared with December, but the numbers are still nearly 21 percent higher in a year-over-year comparison, said the latest report from RealtyTrac.
The Orlando metropolitan statistical area — Lake, Orange, Osceola and Seminole counties — posted 6,282 foreclosure filings last month, or one in every 143 homes, which put the MSA in the No. 10 spot among the nation’s largest metropolitan areas with the highest foreclosure rate. The January 2010 numbers compared with 7,692 in December 2009 and 5,193 in January 2009, the report said.
Osceola County fared the best, seeing a nearly 43 percent decline in foreclosures from 1,665 filings in December 2009 to 953 last month. Osceola’s year-over-year total went up nearly 15 percent from the 830 filings reported in January 2009.
The other counties reported the following results:
• Orange County reported 3,372 fillings last month, or one in every 137 homes, which was an 18.5 percent drop from December 2009’s 4,137 and a 14.6 percent increase from January 2009’s 2,943.
• Seminole County reported 1,201 filings last month, or one in every 145 homes, which was 3 percent higher than December 2009’s 1,162 and a 61 percent jump from January 2009’s 747.
• Lake County reported 756 filings last month, or one in every 190 homes, which was a 4 percent increase from December 2009’s 728 and a 12 percent increase from January 2009’s 673.
The Orlando area was one of two Florida MSAs that posted the nation’s top 10 highest foreclosure rates: Cape Coral-Fort Myers notched the No. 9 spot with one in every 121 homes receiving a filing.
The Sunshine State also had the fourth-highest foreclosure rate in the nation with one in every 187 homes receiving a filing in January, which was just under California’s foreclosure rate by a slim margin, the report said. Nevada led the nation with one in every 95 homes in foreclosure, while Arizona was second with one in every 129 homes receiving a filing.
Florida posted a total of 47,069 filings in January, a nearly 15 percent decline from one month prior, but a 15 percent increase from January 2009.
The RealtyTrac U.S. Foreclosure Market Report provides total properties with at least one foreclosure filing during the year for metropolitan statistical areas with a population of 200,000 or more based on Census Bureau estimates. Data is collected from more than 2,200 counties nationwide accounting for more than 90 percent of the U.S. population.