For the year ended in February, 95,177 foreclosures were completed in Florida – more than in any other state, according to CoreLogic.
And there are a lot more to come: 9.9 percent of the mortgaged homes in Florida are in some stage of the foreclosure process, marking the highest foreclosure inventory of any state, the Irvine, Calif.-based real-estate data firm said. That compares with 2.8 percent of all mortgaged homes nationwide facing foreclosure proceedings.
Nationwide, the number of foreclosures completed in February fell to 54,000. That was a decrease of 19 percent from 67,000 a year earlier and the lowest level since September 2007, the firm said.
Florida is slogging through the aftermath of the housing meltdown: the state’s foreclosure inventory dropped 2.4 percentage points in February from a year earlier, CoreLogic said.
“Even the major Florida markets are benefiting, with the foreclosure inventories falling the fastest in major metropolitan areas, although from a very high level,’’ Mark Fleming, chief economist for CoreLogic, said in a statement.
After Florida, the states with the highest share of mortgaged homes in foreclosure in February were New Jersey, with 7.2 percent; New York, with 5 percent; Nevada, with 4.6 percent; and Illinois, with 4.5 percent.