Thursday, April 11, 2013

Florida Remains #1 In Foreclosures

MIAMI, Florida -- Florida kept the title as the #1 foreclosure state in the U.S., according to RealtyTrac's U.S. Foreclosure Market Report™ for March and the first quarter of 2013.  

There were a total of 85,671 Florida properties with foreclosure filings in the first quarter, the most of any state and one in every 104 housing units — the nation’s highest state foreclosure rate and nearly three times the national average of one in every 296 housing units.  Florida foreclosure activity in the first quarter increased 7 percent from the previous quarter and was up 17 percent from the first quarter of 2012.

Miami-Dade County, which had a real estate market buoyed by foreign buyers last year, saw a 36% increase in foreclosure filings from a year ago - making it the number one foreclosure county in Florida.  

Florida's Space Coast (Brevard County), which often led the state in foreclosures last year, dropped far below the Florida average with 1 in 351.  Palm Bay, Florida, a Space Coast city that topped the foreclosure rates last year, also fell below the state average with 1 in every 209.

The top five Florida counties with the highest foreclosure rates are Miami-Dade County with 1 in every 161, Osceola County 1 in 180, Pasco County 1 in 218, Flagler 1 in 228, and Hernando 1 in  234.