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Foreclosure activity is on the rise in Florida, but the month-over-month rate in Lee and Collier counties is down, according to a new report.
One in every 409 housing units in Florida had a foreclosure filing in May, which is the highest rate in the country, according to real estate data firm RealtyTrac. The Florida rate is up 4% over April and 7% over May 2014. Bank owned real estate properties are up 63% for the year, the report adds.
The data for Collier and Lee shows a recent decrease, but is up over last year. In Collier, for example, one in every 1,108 homes was in foreclosure in May, down 8% from April but up 30% over May 2014. One in every 615 homes in Lee was in foreclosure in May, the report shows, which is a 15% drop from April and a 9% increase from May 2014.
Cape Coral is the default leader in the Lee-Collier region, with a rate of one foreclosure in every 355 homes. Pasco County is the statewide leader in foreclosures, with one in every 205 homes, the report shows.
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