Florida posted the nation's third-highest foreclosure rate in October -- behind Nevada and California -- with one in every 168 homes receiving a foreclosure notice, according to California-based RealtyTrac. The company monitors the national real estate market, including default notices, scheduled foreclosure auctions and bank repossessions. Volusia County matched the state's foreclosure rate at one for every 168 housing units. Flagler County's rate was one in every 213. The national foreclosure rate was one in every 385 homes. Volusia County ranked No. 12 among the state's 67 counties, with 1,468 court filings related to foreclosures in the month, an 11.7 percent increase from October 2008.
Nationally, 332,292 properties received foreclosure notices in October, a 3 percent decrease from September, but up 19 percent from October 2008. A total of 51,911 Florida properties received a foreclosure filing during October, nearly a 6 percent decrease from the September filings and a decrease of 4 percent from October 2008. It was the first year-over-year decrease in overall Florida foreclosure activity since July 2006. Both Volusia and Flagler counties reported increases from September numbers. Volusia was up 3.45 percent. Flagler was up 17.6 percent.
Four states accounted for 52 percent of the nation's total foreclosure activity in October: California, Florida, Illinois and Michigan. Among the country's metro areas, two in Florida ranked in the Top 10 in foreclosure rates. Cape Coral-Fort Myers was No. 5, with a rate of one in 92 homes. And Orlando-Kissimmee ranked No. 9 at one in 117.Daren Blomquist, RealtyTrac's marketing communications manager said foreclosure rates likely will remain "historically high" through 2010 and into 2011.