Continuous tumbling of Real Estate is triggering Increases in Foreclosure

Continuous tumbling of real estate is triggering increases in foreclosure. Tampa foreclosures have spiked considerably. The 6% fall (year over year) can still be observed however despite this drop of foreclosure rates last February. The drop in residential houses last January was 8.5% (year over year).

Last February, across the counties in Tampa Bay sale prices of residential units fell to an average of $120,000. Compared to 2009 February the prices had fallen by 6%. It indicated an increase in the decrease rate from January as well as December 2009. Last January the average price tag was $125,600 – it being higher than the median price of February.

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