Fort Myers Cape Coral Lehigh Acres Homes and Condos For Sale

Fort Myers-Cape Coral ranked fifth in nation for its foreclosure rate in October.

There were 3,907 foreclosure-related filings in the metro area last month _ or one for every 92 households, according to David Botelho of Prudential Florida Realty, . That was down more than 20 percent from September, when there were 4,888 filings.

In Naples-Marco Island, there were 1,188 filings last month _ or one for every 162 households. That ranked the metro area 20th in the nation for its foreclosure rate. Filings were up more than 11 percent from September, when there were 1,068.

The report is based on default notices, auction sale notices and bank repossessions.

Nationally, foreclosure activity slowed for the third straight month.

In October, filings were reported on 332,292 U.S. properties, down 3 percent from September but still up nearly 19 percent from October 2008.

One in every 385 households got a foreclosure related notice last month.

“Three consecutive monthly declines is unprecedented for our report, and on first blush an indication that the foreclosure tide may be turning,” said Botelho.

“However, the fundamental forces driving foreclosure activity in this housing downturn _ high-risk mortgages, negative equity, and unemployment _ continue to loom over any nascent recovery.”

Nevada had the highest state foreclosure rate, with one in every 80 households receiving a notice in October.

California posted the nation’s second highest state foreclosure rate for the second month in a row, with one in every 156 households getting a notice.

Florida came in third, with one in every 168 households receiving a filing.

Other states posting high foreclosure rates were Arizona, Idaho, Illinois, Michigan, Georgia, Maryland and Utah.