SEMINOLE, Fla. — According to Realtor.com, foreclosures are increasing across the country. 

And while things still aren’t as bad as the 2008 housing crisis, experts say it would not be a surprise if rates continue to go up. 

What You Need To Know

According to Realtor.com, Tampa has the highest foreclosure rates in October among metro populations with more than 1 million people, with 1 in every 1,373 housing units 

The site says foreclosures have been on the rise across the country for eight months 

Data shows that Florida has the highest number of foreclosures in the U.S. 

According to Realtor.com, they’ve been increasing for the last eight months, with Florida leading the pack. 

Luis Bedoya, a licensed real estate agent with Charles Rutenberg Realty, showed Spectrum News a Seminole home that he described as a failed project. He is now helping the owner find another buyer to take it over as a short sale. 

He said projects like this are becoming more common, especially in Tampa Bay.

“There’s been a doubling in the amount of short sales and foreclosures since the beginning of 2025,” Bedoya said. “It’s just been doubling in the last three months alone.”

Realtor.com said in an article that Tampa has the highest foreclosure rates in October among metro populations with more than 1 million people, with 1 in every 1,373 housing units. 

Data shows that in places like Lakeland and Ocala, it’s worse — Lakeland is 1 in every 470, and Ocala is 1 in every 665. 

University of South Florida economics professor Michael Snipes said it is unusual for foreclosures to increase eight months in a row. He said it hasn’t happened since 2008, but emphasized that things are not close to the severity of that year.

“I don’t think we should be surprised if we see foreclosure numbers continue to go up,” he said.  

Snipes said there are several reasons this could be happening, and points toward the higher number of people who live on fixed incomes in the state.

“HOA fees are going up, insurance fees are going up,” he said. “So, when you have all of these things affecting a population, that may not necessarily have a whole lot of income coming in on a fixed income, that’s definitely something that’s going to lead to a lot more foreclosures.” 

Despite the number of foreclosures, Bedoya said it’s dependent on the area, adding that there are still many people looking for homes.

“It’s also creating an opportunity for the informed investor, for the buyers that are looking to find properties in distress that they can then renovate, sell for a profit,” he said. “And it brings new families to the community.”

Snipes said he does not expect housing prices to go down or stay the same despite the foreclosures.