Mass foreclosures continue to hurt U.S. housing markets
The Cape Coral-Fort Myers, Fla., area recorded the highest foreclosure rate in the country in July, according to the monthly RealtyTrac report that monitors 230 metropolitan areas.
One in every 64 households in that Florida metro area received a foreclosure filing during the month, more than seven times the national average, the report said.
The national average in July was one foreclosure filing in every 464 households, RealtyTrac said.
Six California metro areas were among the top 10 communities in foreclosure filings. Las Vegas also made the top 10 list — fifth — along with Fort Lauderdale, ninth, and Phoenix, 10th.
The accompanying map shows foreclosure frequency by county across the country. Red counties have one foreclosure action for every 10 to 250 households. Dark blue counties have one foreclosure for every 10,000 to 99,999 households.
In a state-by-state breakdown, Nevada reported the highest foreclosure activity in July.
Missouri, with one foreclosure action in 747 households, was ranked 18th. Kansas was 37th, with one foreclosure in 1,784 households. Among metro areas, Kansas City was 85th, at one in 570 households.