Cape Coral-Fort Myers, Florida had the highest metro foreclosure rate in the country last month and the news is spreading.

"The sharp rise in bank repossessions, combined with slow sales, has resulted in a bloated inventory of bank-owned properties for sale," said James Saccacio, the chief executive of RealtyTrac, an online market place for foreclosed homes.

"Cape Coral-Fort Myers in Florida registered the worst foreclosure rates of the 230 metro areas tracked, with one in every 64 households receiving a filing."

When foreclosed properties fail to sell at county auctions, they are repossessed by banks pending their sale. Bank repossessions constituted only 16 percent of foreclosure activity a year ago, but they now make up some 28 percent, according to the RealtyTrac report.

The Naples Daily News reports: The results were released early Thursday as part of RealtyTrac’s U.S. Foreclosure Market Report, which shows that, nationwide, there were foreclosure filings on 272,171 properties in July. The report tracks default notices, auction sale notices and bank repossessions.

In Collier County, 921 homes — or one in every 204 households — received at least one foreclosure-related notice in July. That was down 9 percent from June, but up 577 percent from a year ago, according to RealtyTrac.

The Naples-Marco Island area ranked 25th in the country for its foreclosure rate. In June, it was in 19th place. But Sharga said it’s too early to call it a trend.

Charlotte County had the fourth highest foreclosure rate in the state. There were 819 filings, or one for every 117 households, up 59 percent from June and 566 percent from a year ago.