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Florida still leads nation in foreclosure activity

By Martha Brannigan / The Miami Herald / MBRANNIGAN@MIAMIHERALD.COM

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

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.

Read more here: http://www.miamiherald.com/2014/06/10/4168228/florida-still-leads-nation-in.html#storylink=cpy

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