More than half of the 206 U.S. metropolitan areas with a population of 200,000 or more posted year-over-year increases in foreclosure activity, even while foreclosure activity decreased in nine of the 10 metros with the highest foreclosure rates, according to RealtyTrac Inc.
California, Florida, Nevada and Arizona accounted for all top 20 metro foreclosure rates. Florida led the way, with nine of the top 20 metro foreclosure rates, followed by California with eight, Nevada with two and Arizona with one.
Related: Read "The outlook for vacant property."
Las Vegas continued to post the nation's highest metro foreclosure rate in the first half of the year, with 6.6 percent of its housing units receiving a foreclosure filing--more than five times the national average. A total of 53,525 Las Vegas properties received a foreclosure filing during the 6-month period, a decrease of nearly 15 percent from the previous 6 months and a decrease of nearly 9 percent from the first half of 2009.
Foreclosure activity in the Cape Coral-Fort Myers, Fla., metro area decreased nearly 22 percent from the previous 6 months and was down nearly 30 percent from the first half of 2009, but the metro area still documented the nation's second highest metro foreclosure rate--4.98 percent of its housing units (one in 20) received a foreclosure filing during the 6-month period. Other Florida cities in the top 10 were Orlando-Kissimmee at No. 8 (4.15 percent) and Miami-Fort Lauderdale-Pompano Beach at No. 10 (3.89 percent).
More properties received a foreclosure filing in the Miami-Fort Lauderdale-Pompano Beach metro area during the first half of 2010 than any other metro area with a population of 200,000 or more. A total of 94,466 properties in the Miami area received a foreclosure filing during the 6-month period, a decrease of 8 percent from the previous six months, but up nearly 11 percent from the first 6 months of 2009.
Other metro areas with the 10 highest foreclosure totals were:
- Phoenix-Mesa-Scottsdale (73,352)
- Riverside-San Bernardino-Ontario (63,717)
- Las Vegas-Paradise (53,525)
- Atlanta-Sandy Springs-Marietta (52,381)
- Detroit-Warren-Livonia (47,563)
- New York-Northern New Jersey-Long Island (44,522)
- Orlando-Kissimmee (37,352).
