Markets & Economy

Foreclosure pipeline still full in Florida

Foreclosure activity down, but hot spots still exist
  • Florida cities make up half of the list of the 10 cities with the highest number of housing units in foreclosure in the nation.
  • For the 12 months ending in September 2015, Florida led all 50 states for completed foreclosures, with 91,000.
  • In Florida, foreclosure activity decreased year-over-year for the third quarter.

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Florida is on the path to foreclosure recovery -- that's according to RealtyTrac's third-quarter report. The number of foreclosure starts fell by 28 percent, and the number of auctions declined by 46 percent year-over-year. Foreclosure statistics are a composite of a variety of points in a long and entangling process. RealtyTrac’s total foreclosure filings include properties with default notices, scheduled notice and bank repossessions. In Florida, foreclosure activity decreased year-over-year for the third quarter. The Sunshine State is far from out of the woods yet. In fact, it is second to New Jersey for the country’s highest foreclosure rate. In the Garden State, one out of every 171 properties has foreclosure looming. Nevada trails just behind Florida. While slightly more properties in the U.S. had foreclosure filings attached to them, the number that began the foreclosure process fell, and the level of new foreclosures across the country is at its lowest l...