MAP: Jacksonville Foreclosure Rate Down In New Data

Oct 10, 2013

Newly released foreclosure data shows some good news, and some not so good news from the Jacksonville metro area.

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RealtyTrac released data this week for both the month of September as well as the third quarter of 2013.

On the plus side, Jacksonville fell from having the highest foreclosure rate in August among cities with 200,000 or more people — to the 5th highest rate in September. 

RealtyTrac Vice President Daren Blomquist says it was just a matter of time before the market started to improve.

“We always expected foreclosure numbers to rebound in Florida because they were artificially low back in 2011.  And that’s of course helped by the rise in home prices which is giving people more equity in their homes and helping them avoid foreclosure as well,” he said.

According to Blomquist, Jacksonville’s median home price in August was $135,000. That’s up from just $110,000 dollars in August of 2012. 

Unfortunately, Jacksonville ranks second in third-quarter foreclosures.

There is a sort of silver lining — at least the city’s no longer in first place, which is where it was three months ago.