July saw an increase of 13% from one year ago in foreclosure filings. Foreclosure completions were up 18% from July 2024.
Nevada and Florida saw the biggest increases in foreclosure filings. Analysts say that both states have economies tied to tourism and when the economy slows – as it has this year – tourism often takes a dive.
In Nevada, casinos report net income is down 24.4%. In Florida, three metro areas – Cape Coral. Lakeland, and Deltona – has had some of the highest foreclosure rates in the country.