REAL ESTATE

Florida still leads nation in foreclosure activity

 

Florida posted the highest foreclosure rate for the eighth month in a row in May, according to RealtyTrac.

mbrannigan@MiamiHerald.com

Even as Florida’s housing market has made major strides toward recovery, foreclosures grind on.

Florida posted the highest foreclosure rate for the eighth month in a row in May, according to RealtyTrac.

The state continues to chip away at its mountain of foreclosures, with the foreclosure rate down 30 percent from a year earlier, the Irvine, Calif.-based data firm said.

Still, in metro areas across the state foreclosure activity — which includes default notices, scheduled auctions and bank repossessions — remained extremely high.

“Florida accounted for the eight highest foreclosure rates” among large metro areas, RealtyTrac said.

Foreclosure activity was highest the Palm Bay-Melbourne-Titusville area, where one in every 303 homes received a foreclosure filing in May. That was nearly four times the national average.

Other Florida metro areas with high foreclosure activity were: No. 2 Deltona-Daytona Beach-Ormond Beach; Orlando-Kissimmee at No. 3; Lakeland at No. 4; Port St. Lucie at No. 5; Ocala at No. 6; Tampa-St. Petersburg-Clearwater at No. 7; and Miami-Fort Lauderdale-Pompano Beach at No. 8. In the Miami-Fort Lauderdale-Pompano Beach area, one of every 405 homes received some type of foreclosure filing.

Foreclosure activity was down 59 percent year over year in Miami-Dade County and down 27 percent from May 2013 in Broward County, according to the monthly data from RealtyTrac.

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