Maryland foreclosure starts in August increased 71 percent from the previous month and were up 20 percent from a year ago, helping that state’s foreclosure rate—one in every 532 housing units with a foreclosure filing—rank third highest in the nation.
New Jersey foreclosure starts in August increased 115 percent from a year ago to the highest level since January 2014, and scheduled foreclosure auctions increased 71 percent from a year ago to the highest level since July 2010, giving New Jersey the nation’s fourth highest state foreclosure rate: one in every 553 housing units with a foreclosure filing.
Georgia REO activity increased 196 percent from the previous month and was up 146 percent from a year ago to the highest level since August 2012, boosting the state’s foreclosure rate to fifth highest nationwide in August, up from 12th highest in July. One in every 582 Georgia housing units had a foreclosure filing during the month.
Other states with foreclosure rates among the nation’s 10 highest in August were Delaware at No. 6 (one in every 746 housing units with a foreclosure filing); Ohio at No. 7 (one in every 840 housing units); Illinois at No. 8 (one in every 842 housing units); Indiana at No. 9 (one in every 893 housing units); and South Carolina at No. 10 (one in every 949 housing units).
Macon, Atlantic City, Orlando post top metro foreclosure rates
With one in every 154 housing units with a foreclosure filing in August, Macon, Ga., posted the highest foreclosure rates among metropolitan statistical areas with a population of 200,000 or more. Macon foreclosure activity in August increased from a year ago following 18 consecutive months of year-over-year declines.
Foreclosure activity in Atlantic City, N.J., increased on a year-over-year basis in August for the 28th time in the last 30 months, helping the metro area’s foreclosure rate rank second highest nationwide. One in every 292 housing units in Atlantic City had a foreclosure filing in August, nearly four times the national average.
One in every 294 Orlando housing units had a foreclosure filing in August, the nation’s third highest metro foreclosure rate. Orlando foreclosure activity increased 33 percent from a year ago, and all three stages of foreclosure saw increases from a year ago: foreclosure starts increased 18 percent, scheduled auctions increased 63 percent, and REOs increased 15 percent to the highest level since January 2013.
The remaining seven metro areas with foreclosure rates in the top 10 highest were all in Florida: Jacksonville at No. 4 (one in every 300 housing units with a foreclosure filing); Miami at No. 5 (one in every 359 housing units); Palm Bay-Melbourne-Titusville at No. 6 (one in every 368 housing units); Tampa at No. 7 (one in every 407 housing units); Pensacola at No. 8 (one in every 426 housing units); Cape Coral-Fort Myers at No. 9 (one in every 430 housing units); and Lakeland at No. 10 (one in every 441 housing units).
Foreclosure activity increased from a year ago in eight of the markets with top 10 highest foreclosure rates. The two markets with decreases in foreclosure activity from a year ago were Miami (down 10 percent), and Tampa (down 14 percent).
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