The greater Miami area led the pack in foreclosure activity among the 20 largest metro areas in October, according to RealtyTrac.
One in every 363 homes in metro Miami — covering Miami, Fort Lauderdale and Pompano Beach — had some type of foreclosure filing during October, the Irvine, Calif.-based data firm said. Foreclosure filings include default notices, schedules auctions, and bank repossessions.
Foreclosure activity in metro Miami rose 11 percent in October from September, fueled by a 67 percent monthly spike in foreclosure starts, RealtyTrac said. However, foreclosure activity in the metro area was down 27 percent from a year earlier.
Florida ranked second in foreclosure filing activity behind No. 1 Maryland during October, with one in every 444 homes in Florida receiving some type of foreclosure filing during the month.
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Nationwide foreclosure activity also spiked in October, up 15 percent from September. Still, the level was down 8 percent from October 2013.
In a statement, RealtyTrac vice president Daren Blomquist said the increased foreclosure activity broadly reflects lenders pressing forward on properties that have long been distressed. “Distressed properties that have been in a holding pattern for years are finally being cleared for landing at the foreclosure auction,’’ Blomquist said.