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Florida tops in completed foreclosures

By John Hielscher , Herald-Tribune
/ Thursday, May 29, 2014

Florida continues to lead the nation with the number of completed foreclosures while maintaining the second-highest percentage of distressed homes.

A total of 121,338 foreclosures were closed in Florida during the 12-month period ended in April, real estate data provider CoreLogic said today.

That was more than twice as many as in any other state, and represented 20 percent of the U.S. total.

Florida also reported the nation’s No. 2 foreclosure inventory, with 5.4 percent of all homes in some stage of distress.

But that was down from 9.2 percent a year earlier, and slightly behind New Jersey’s April mark of 6.0 percent.

An estimated 694,000 U.S. homes were in some stage of foreclosure in April, down from 1.1 million a year earlier.

“Over the last 12 months, completed foreclosures fell to 599,000, the lowest level since the Great Recession began in 2007,” said Sam Khater, deputy chief economist at CoreLogic. “At the current pace of completed foreclosures, and given the current foreclosure inventory, it will take 14 months to move all of the foreclosed inventory through the pipeline.”


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