Being No. 1 isn’t always so cool.
The Greater Miami area, including Fort Lauderdale and Pompano, posted the highest foreclosure rate of the nation’s 20 largest metropolitan areas in the first quarter, RealtyTrac said.
Despite a 25-percent plunge in foreclosure activity year over year, one of every 106 residences in Greater Miami received some sort of foreclosure filing in the first quarter, according to the Irvine, Calif.-based data firm. That’s more than 10 times the overall U.S. rate of one in every 1,121 residences.
Among the 20 largest metro areas, Tampa ranked No. 2, followed by Chicago; Riverside, Calif.; and Baltimore.
Florida had the highest foreclosure rate of any state in the first quarter, with one in 129 homes receiving some type of foreclosure activity, which includes default notices, auction notices and bank repossessions.
Florida’s first-quarter foreclosure rate fell 19 percent from a year ago and was down less than one percent from the prior quarter, RealtyTrac said.