20 U.S. Cities where rebound in foreclosure activity could create risks 

We’ve compiled a list of the 20 Cities in the United States where rebound in foreclosure activity could create risks. Not the good news you’d like to hear, could cause more problems for homeowners in the future. The data is based on which cities have the biggest backlog of foreclosures.

1) Palm Bay, FL

M.S.A. (Metropolitan Statistical Areas): Palm Bay-Melbourne-Titusville, FL Foreclosure Rate: 1 out of 170 homes
Filing Increase year-over-year: 231%
Distressed Inventory: 22 month supply
Percentage of Total Home Sales: 20.3%
Average Discount: 29%

2) Lakeland, FL

M.S.A. (Metropolitan Statistical Areas): Lakeland, FL
Foreclosure Rate: 1 of 290 homes
Filing Increase year-over-year: 173.5%
Distressed Inventory: 24 months supply
Percentage of Total Home Sales: 20.3%
Average Discount:14.7%

3)  York, PA

M.S.A. (Metropolitan Statistical Areas): York-Hanover, PA
Foreclosure Rate: 1 of every 439 homes
Filing Increase year-over-year: 149.7%
Distressed Inventory: 30 months supply
Percentage of Total Home Sales: 15%
Average Discount: 25.7%

4) Tampa, FL

M.S.A. (Metropolitan Statistical Areas): Tampa-St. Petersburg-Clearwater, FL
Foreclosure Rate: 1 of every 304 homes
Filing Increase year-over-year: 110.7%
Distressed Inventory: 22 months supply
Percentage of Total Home Sales: 20.4%
Average Discount: 23.6%

5)  Tallahassee, FL

M.S.A. (Metropolitan Statistical Areas): Tallahassee, FL
Foreclosure Rate: one of every 532 homes
Filing Increase year-over-year: 104%
Distressed Inventory: 42 months
Percentage of Total Home Sales: 11.5%
Average Discount: 27.8%

6) Dayton, OH

M.S.A. (Metropolitan Statistical Areas): Dayton, OH
Foreclosure Rate: 1 of every 408 homes
Filing Increase year-over-year: 92.5%
Distressed Inventory: 30 months supply
Percentage of Total Home Sales: 20.6%
Average Discount: 36.3%

7) Gainesville, FL

M.S.A. (Metropolitan Statistical Areas): Gainesville, FL
Foreclosure Rate: 1 of every 586 homes
Filing Increase year-over-year: 88%
Distressed Inventory: 36 months supply
Percentage of Total Home Sales: 16.4%
Average Discount: 12.2%

8) Columbia, SC

M.S.A. (Metropolitan Statistical Areas): Columbia, SC
Foreclosure Rate: 1 of every 362 homes
Filing Increase year-over-year: 81.4%
Distressed Inventory: 37 months supply
Percentage of Total Home Sales: 18%
Average Discount: 31.2%

9) Orlando, FL

M.S.A. (Metropolitan Statistical Areas): Orlando-Kissimmee, FL
Foreclosure Rate: 1 of every 254 homes
Filing Increase year-over-year: 80.5%
Distressed Inventory: 23 month supply
Percentage of Total Home Sales: 27.7%
Average Discount: 17.9%

10) Rockford, IL

M.S.A. (Metropolitan Statistical Areas): Rockford, IL
Foreclosure Rate: 1 of every 262 homes
Filing Increase year-over-year: 71.9%
Distressed Inventory: 38 month supply
Percentage of Total Home Sales: 28.4%
Average Discount: 34.2%

11) Chicago, IL

M.S.A. (Metropolitan Statistical Areas): Chicago-Naperville-Joliet, IL-IN-WI
Foreclosure Rate: 1 of every 252 homes
Filing Increase year-over-year: 56.2%
Distressed Inventory: 34 month supply
Percentage of Total Home Sales: 32.6%
Average Discount: 38.3%

12) Canton, OH

M.S.A. (Metropolitan Statistical Areas): Canton-Massillon, OH
Foreclosure Rate: 1 of every 361 homes
Filing Increase year-over-year: 53.6%
Distressed Inventory: 25 month supply
Percentage of Total Home Sales: 19.4%
Average Discount: 28.6%

13) Indianapolis, IN

M.S.A. (Metropolitan Statistical Areas): Indianapolis-Carmel, IN
Foreclosure Rate: 1 of every 488 homes
Filing Increase year-over-year: 52.3%
Distressed Inventory: 30 month supply
Percentage of Total Home Sales: 27%
Average Discount: 21.6%

14) Charlotte, NC

M.S.A. (Metropolitan Statistical Areas): Charlotte-Gastonia-Concord, NC-SC
Foreclosure Rate: 1 of every 570 homes
Filing Increase year-over-year: 42.9%
Distressed Inventory: 21 month supply
Percentage of Total Home Sales: 15.6%
Average Discount: 34.7%

15) Cleveland, OH

M.S.A. (Metropolitan Statistical Areas): Cleveland-Elyria-Mentor, OH
Foreclosure Rate: 1 of every 421 homes
Filing Increase year-over-year: 41.8%
Distressed Inventory: 31 month supply
Percentage of Total Home Sales: 22.1%
Average Discount: 37.3%

16) Ocala, FL

M.S.A. (Metropolitan Statistical Areas): Ocala, FL
Foreclosure Rate:1 of every 448 homes
Filing Increase year-over-year: 41.3%
Distressed Inventory: 20 month supply
Percentage of Total Home Sales: 24.3%
Average Discount: 6.3%

17) Louisville, KY

M.S.A. (Metropolitan Statistical Areas): Louisville/Jefferson County, KY-IN
Foreclosure Rate: 1 of every 495 homes
Filing Increase year-over-year: 35.7%
Distressed Inventory: 32 month supply
Percentage of Total Home Sales: 19.9%
Average Discount: 40.8%

18) Green Bay, WI

M.S.A. (Metropolitan Statistical Areas): Green Bay, WI
Foreclosure Rate: 1 of every 492 homes
Filing Increase year-over-year: 31.6%
Distressed Inventory: 38 months
Percentage of Total Home Sales: 25.4%
Average Discount: 28%

19) Columbus, OH

M.S.A. (Metropolitan Statistical Areas): Columbus, OH
Foreclosure Rate: 1 of every 437 homes
Filing Increase year-over-year: 29.9%
Distressed Inventory: 27 month inventory
Percentage of Total Home Sales: 22.7%
Average Discount: 38.7%

20) Jacksonville, Fl

M.S.A. (Metropolitan Statistical Areas): Jacksonville, FL
Foreclosure Rate: 1 of every 332 homes
Filing Increase year-over-year: 24%
Distressed Inventory: 26 months
Percentage of Total Home Sales: 28%
Average Discount: 28.2%

About the author: Amarendra Bhushan

A journalist, author and serial entrepreneur- Founder and CEO of CEOWORLD Magazine and Lucentbyte Media Technologies LTD. (amar@ceoworld.biz)