Jacksonville Foreclosures Continue Upward

13 06 2010

The Jacksonville area had the 17th highest foreclosure rate in the nation in May, according to RealtyTrac.

There were 3,789 foreclosure filings filed last month, up 56.89 percent from April and up 41.91 percent from May 2009. One in every 157 properties received a foreclosure filing in the Jacksonville area in May.

Florida still had the third highest foreclosure rate in May with one in every 174 properties receiving a foreclosure notice in May, Nevada had the highest rate with one in every 79 homes and Arizona the second highest with one in every 169 homes.

With 50,685 properties receiving a foreclosure filing during the month, Florida also accounted for nearly 16 percent of the national total in May despite a nearly 14 percent decrease in foreclosure activity from May 2009. Florida foreclosure activity increased nearly 5 percent from the previous month.

Nationally the 322,920 foreclosure filings were a 3 percent drop from April and less then 1 percent higher than May 2009. One in every 400 U.S. homes received a foreclosure filing during the month.

Source: Jacksonville Business Journal

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