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Bay Area 28th In February Foreclosures

Associated Press file photo

Florida had 46,391 properties with a foreclosure filing in February.

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By SHANNON BEHNKEN

sbehnken@tampatrib.com

Published: March 12, 2009

Updated: 03/12/2009 09:22 am

TAMPA - The Sunshine State had the fourth-highest foreclosure rate among all states in February, and the Tampa Bay area ranked 28th among the country's metro areas for its filings, according to California-based RealtyTrac.

Florida's foreclosure activity - default notices, auction sale notices and bank repossessions - increased nearly 14 percent from the previous month and 43 percent from February 2008. The jump was attributed mainly to an increase in auction sale notices and bank repossessions.

The state had 46,391 properties with a foreclosure filing in February. That's one out of every 188 households.

The Tampa Bay area, which includes Hillsborough, Pasco, Pinellas and Hernando counties, had 5,828 filings. That's one out of every 225 households and a 37 percent increase from February 2008.

Nationwide, 1 in 440 households received a foreclosure filing during the month. There were 290,631 filings in February, an increase of nearly 30 percent from the same month a year ago.

Nevada, Arizona and California posted the top state foreclosure rates.

Among metro areas, only one Florida area was in the top 10 for its foreclosure rate. The Cape Coral-Fort Myers metro area had the second highest foreclosure rate, with 1 in 65 housing units receiving a foreclosure filing during the month.

Las Vegas ranked No. 1. Another Nevada market, Reno-Sparks, ranked eighth. Six of the metro areas were in California. The Phoenix metro area posted the ninth highest foreclosure rate.

Reporter Shannon Behnken can be reached at (813) 259-7804.

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