Tampa area still experiencing some foreclosure growth

Foreclosure rates in the Tampa-St. Petersburg-Clearwater market were up in September, but growth in the area has slowed compared to the rest of the state. Foreclosure rates in the greater Tampa area rose 3.89 percent in September compared to the previous year, according to First American CoreLogic, while 90-day mortgage delinquency rates grew 6.43 percent. Statewide, the foreclosure rate stood at 10.2 percent compared to 8.82 percent in Tampa-St. Petersburg, a 4.69 percent increase year-over-year. Nationwide, foreclosure growth was much more gradual with rates up 1.67 percent in September while 90-day delinquencies were up 2.89 percent. Just under 3 percent of the nation’s homes were in foreclosure compared to nearly 9 percent in the greater Tampa market.

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