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Tampa Bay bucks trend toward increased foreclosure filings

 
As evidence of its booming economy, Tampa Bay is the only major metro area in Florida where foreclosure filings haven't started to climb.    [Getty Images file photo, 2010]
As evidence of its booming economy, Tampa Bay is the only major metro area in Florida where foreclosure filings haven't started to climb. [Getty Images file photo, 2010]
Published Aug. 21, 2018

As evidence of its booming economy, Tampa Bay is the only major metro area in Florida where foreclosure filings haven't started to climb. In July, by contrast, Orlando, Jacksonville and Miami all recorded a year-over-year increase in foreclosure starts for the third consecutive month, the property database ATTOM Data Solutions says.

Nationwide, 15 percent of the 96 metro areas surveyed had three consecutive months of increased foreclosure filings with the biggest increases in Los Angeles, Houston, Miami, Philadelphia and San Francisco.

"Gradually loosening lending standards over the past few years have introduced a modicum of risk back into the housing market," said Daren Blomquist, ATTOM's senior vice president. "Most susceptible to rising foreclosure starts are affordability-challenged markets where homebuyers are more financially stretched and markets with some type of trigger event such as a natural disaster or large-scale layoffs."

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