Month of May’s Top Metros with Highest Foreclosure rate

According to a recent write up by RealtyTrac for May 2012, it has revealed recently the Top Metros in the US with the highest foreclosure rate during the month of May. The report and data they gathered were part of their monthly foreclosure activity report that included 2,200 counties in the whole US which is around 90% of the total US population.

May had been reported to have dropped about 4% in foreclosure activities since May 2011. It has been the 20^th straight month was recorded for the Y-O-Y report. However, RealtyTrac also clarified that even though foreclosure activity for May fall to 4%, they have forecast a climbing stage of foreclosure of about 200,000 for the first time in 3 months – and other say that it would surely bring about a bit of change as well in the whole housing market, including licensing of realtors for different states.

And now, here are the Top 10 Metros that RealtyTrac said to have the highest foreclosure rate for the month of May:

1.       Palm Bay-Melbourne-Titusville, Florida

Foreclosure rate: 1 in every 170 unit

% change in foreclosure rate from May 2011: 230.98%

Total Housing Units: 269,864

Metro Population: 543,376

2.       Visalia-Portville, California

Foreclosure rate: 1 in every 174 unit

% change in foreclosure rate from May 2011: 41.42%

Total Housing Unit: 141,696

Metro Population: 442,179

3.       Riverside-San Bernardino-Ontario, California

 Foreclosure rate: 1 in every 179 unit

% Change in foreclosure rate from May 2011: -3.03%

Total Housing Units: 1.5 Million

Metro Population: 4.22 million

4.       Vallejo-Fairfield, California

 Foreclosure rate: 1 in every 180 units

% Change in foreclosure rate from May 2011: -21.37%

Total Housing Units: 152,698

Metro Population: 413,344

5.       Stockton, California

 Foreclosure rate: 1 in every 195 units

% change in foreclosure rate from May 2011: -27.42%

Total Housing Units: 685,306

Metro Population: 233,755

6.       Modesto, California

Foreclosure rate: 1 in every 199 units

% change in foreclosure rate from May 2011: -20.35%

Total Housing Units: 179,503

Metro Population: 514,453

7.       Bakersfield, California

Foreclosure rate: 1 in every 205 units

% change in foreclosure rate from May 2011: -14.93%

Total Housing Units: 284,367

Metro Population: 839,631

8.       Atlanta, Sandy Springs-Marietta, Georgia

Foreclosure rate: 1 in every 225 units

% change in foreclosure rate from May 2011: 28.41%

Total Housing Units: 2.17 million

Metro Population: 5.27 million

9.       Phoenix-Mesa-Scottsdale, Arizona

Foreclosure rate: 1 in every 245 units

% change in foreclosure rate from May 2011: -30.3%

Total Housing Units: 1.8 million

Metro Population: 4.19 million

10.   Chicago-Naperville-Joliet, Illinois, Indiana, Wisconsin

Foreclosure rate: 1 in every 252 units

% change in foreclosure rate from May 2011: 56.17%

Total Housing Units: 3.8 million

Metro Population: 9.46 million

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