Miami foreclosure backlog is working its way out

  • In new numbers calculated by RealtyTrac, the Miami MSA ranked 22nd in the nation for foreclosures.

  • Miami showed declines in its foreclosure rate both month-to-month in December to January, and year-over-year from January 2015 to this January.
  • In terms of a ratio, in Miami, one out of every 808 homes is somewhere in the foreclosure process.

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In new numbers calculated by RealtyTrac, the Miami MSA ranked 22nd in the nation for foreclosures. The company computes that ranking by dividing the total number of housing units in an area by the number of foreclosures. They rank only metros with a population of 200,000 or better on this list.