Orlando MSA foreclosure starts dip 35 percent in April

Published Monday, May 21, 2018

All four counties within the Orlando MSA reported year-over-year decreases in foreclosure starts in April, according to ATTOM Data Solutions. Orange County experienced the greatest drop with 46 percent fewer foreclosures compared to April 2017.

The Orlando MSA as a whole experienced a 35 percent increase in foreclosure starts compared to last year and 8 percent fewer starts compared to last month. A total of 484 foreclosure filings in April translates to one filing in every 2,017 housing units within the MSA.

Each county except one also posted declines when compared to March 2018, with Seminole County showing the lone month-over-month increase of 65 percent.

Nationwide, there were 17 percent less foreclosures starts compared to April 2017 and 14 percent less compared to March 2018.

Foreclosure Sales

While the ATTOM data reflects foreclosure starts, ORRA’s data tracks the completed sales of foreclosures that were listed in the local MLS by REALTOR® members. The association’s April housing market report shows that 96 foreclosures accounted for 3 percent of all sales and are a decrease of 49 percent compared to April 2017.

The median price of foreclosures sold in April is $167,500, an increase of 15 percent over April of last year.

There were 170 foreclosures available for purchase in Orlando in April. Those homes represent a 43 percent decrease over the foreclosure inventory that was available in April 2017.