The Miami-Fort Lauderdale metropolitan area ranked among the top 10 U.S. metro areas with the highest foreclosure rates in 2009, according to a newly released report by RealtyTrac, the Irvine, Calif.-based online marketplace for foreclosures.
The report found there were 172,894 properties with foreclosure filings in the local metro area, or one in every 14 homes. The rate was up 43.5 percent from 2008 and up nearly 200 percent from 2007.
Florida accounted for eight of the top 20 metro foreclosure rates. Only California, with nine, had more.
“While it was expected that cities from states with the highest levels of foreclosure activity would top the charts, there is evidence that we’re entering a new wave of foreclosures, driven more by unemployment and economic hardship than what we’ve seen over the past few years,” RealtyTrac CEO James J. Saccacio in a news release.
Nationwide, there were 2.8 million foreclosure filings in 2009, or one out of every 45 housing units. That was up 21.2 percent from 2008 and 119.6 percent from 2007.
The Las Vegas market led the nation’s metro areas, with more than 12 percent of its housing units receiving a foreclosure notice last year. That’s more than five times the national average.
Across Florida, the Cape Coral-Fort Myers market posted the second-highest metro area foreclosure rate in the nation, with 11.87 percent. Orlando-Kissimmee ranked seventh, with 8.17 percent. Port St. Lucie ranked ninth, with 7.58 percent of its housing units in foreclosure.
Among other Florida metro areas in the top 100:
Miami-Fort Lauderdale-Pompano Beach, No. 10, at 7.16 percent
Naples, No. 13, at 6.38 percent
Deltona-Daytona Beach-Ormond Beach, No. 16, at 5.32 percent
Sarasota-Brandenton-Venice, No 17, at 5.26 percent
Lakeland, No. 18, at 5.19 percent
Palm Bay-Melbourne-Titusville, No. 21, at 4.78 percent
Tampa-St. Petersburg-Clearwater, No. 22, at 4.77 percent
Jacksonville, No. 26, at 4.53 percent
Pensacola-Ferry Pass-Brent, No. 44, at 2.85 percent
Gainesville, No. 68, at 2.08 percent
Tallahassee, No. 82, at 1.72 percent
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