Tuesday, June 10, 2014

Florida No. 1 In Foreclosures for 8th Straight Month

ORLANDO, Florida -- Florida posted the nation’s highest foreclosure rate for the eighth consecutive month, according to RealtyTrac's U.S. Foreclosure Market Report for May 2014.  One in every 436 Florida housing units had a foreclosure filing during May, nearly three times the national average.  

Eight of the 20 highest foreclosure rates in metropolitan statistical areas with a population of 200,000 or more were in Florida, led by Florida's Space Coast (Brevard County) at No. 1.  One in every 303 housing units on the Space Coast had a foreclosure filing in May, nearly four times the national average.

Other Florida cities with top 10 foreclosure rates were:

Rank                           Metro Area

1.        Palm Bay-Melbourne-Titusville (Brevard County / Florida Space Coast) (1 in 303)

2.        Deltona-Daytona Beach-Ormond Beach (1in 314)

3.        Orlando (1 in 336)

4.        Lakeland (1 in 379) 

5.        Port St. Lucie (1 in 381) 

6.        Ocala (1 in 384)  

7.        Tampa-St. Petersburg-Clearwater (1 in 386)

8.        Miami-Fort Lauderdale-Pompano Beach (1 in 405)

Nationwide, RealtyTrac reported that overall foreclosure activity (foreclosure filings, default notices, scheduled auctions and bank repossessions) decreased 5% from April and was down 26% from May 2013 to the lowest monthly level since December 2006.


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