FLORIDA FORECLOSURE ACTIVITY FALLS 25 PERCENT IN MARCH

Activity Still Up 54 Percent From Year Ago; Foreclosure Rate in Nation’s Top 10

 

IRVINE, Calif. – April 23, 2007 – Florida reported 14,303 foreclosure filings, the nation’s second highest total for March; a 25 percent drop from the previous month but still 54 percent ahead of March 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report. The state posted the seventh highest foreclosure rate in the country for the month — one foreclosure filing for every 511 households.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 900,000 properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“So far in 2007 Florida’s housing market has been on quite a roller coaster ride. After a two month surge with foreclosure activity climbing a total 100 percent, the state experienced a 25 percent drop in March — still well ahead of the state’s total for the same month last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment in the state is well below the national average. Still, key factors in the housing market — such as declining home sales, a much lower rate of price appreciation, and the continuing fallout from the excessive use of subprime loans — indicate that the state is far from recovering.”

 

Well below national leader California by more than 50 percent, Florida’s total exceeded third place Texas by slightly more than 1,500 foreclosure filings. The remaining states in the nation’s top 10 for foreclosure total in March were Michigan, Ohio, Illinois, Georgia, Colorado, New Jersey and Nevada. Florida’s foreclosure rate was 1.5 times the national average.

 

Top five counties account for more than half of state total

Foreclosures in five out of Florida’s 67 counties accounted for 52 percent of all activity in the state for March. Once again Miami-Dade County led the state in foreclosure activity, reporting 2,823 foreclosure filings for the month. Broward County reported the state’s second highest total with 2,049 foreclosure filings. Duval County reported the third highest total, 1,062 foreclosure filings. Hillsborough County came in fourth place, reporting 840 foreclosure filings, followed by fifth place Palm Beach County, where 784 filings were reported.

 

Osceola, Flagler counties lead state in foreclosure rate

Osceola County reported the highest foreclosure rate in Florida for March with one foreclosure filing for every 211 households — 2.4 times the state average and 3.7 times the national average. Flagler County came in a close second with a foreclosure rate of one filing for every 216 households — 2.4 times the state average and 3.6 times the national average. Saint Lucie County tallied the third highest rate, one filing for every 247 households — 2.1 times the state average and 3.1 times the national average. Miami-Dade County’s rate was fourth highest with one filing for every 302 households, while Duval County rounded off the top five with one filing for every 311 households.

 

State the second largest contributor to national total

Florida accounted for 10 percent of the 149,150 foreclosure filings nationwide in March. The national total was up almost 7 percent from the previous month, and surged 47 percent from March 2006. The nation’s monthly foreclosure rate increased to one foreclosure filing for every 775 U.S. households.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

                     Florida Foreclosure Market by County – March 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,134

51,203

8,906

19,416

22,491

149,150

775

n/a

n/a

Florida

8

0

3,617

10,117

561

14,303

511

1.52

n/a

 

 

 

 

 

 

 

 

 

 

Alachua

0

0

8

36

0

44

2162

0.36

0.24

Baker

0

0

2

7

1

10

759

1.02

0.67

Bay

0

0

9

45

7

61

1286

0.60

0.40

Bradford

0

0

0

0

0

0

 

0.00

0.00

Brevard

0

0

121

285

17

423

525

1.48

0.97

Broward

0

0

519

1,499

31

2,049

362

2.14

1.41

Calhoun

0

0

0

3

0

3

1750

0.44

0.29

Charlotte

0

0

24

147

6

177

451

1.72

1.13

Citrus

0

0

13

30

2

45

1382

0.56

0.37

Clay

0

0

18

70

6

94

572

1.36

0.89

Collier

0

0

18

112

4

134

1079

0.72

0.47

Columbia

0

0

0

7

0

7

3368

0.23

0.15

De Soto

0

0

0

4

2

6

2268

0.34

0.23

Dixie

0

0

0

0

0

0

 

0.00

0.00

Duval

3

0

433

501

125

1,062

311

2.50

1.65

Escambia

0

0

57

125

6

188

663

1.17

0.77

Flagler

0

0

0

105

8

113

216

3.58

2.36

Franklin

0

0

0

0

1

1

7180

0.11

0.07

Gadsden

0

0

3

12

9

24

738

1.05

0.69

Gilchrist

0

0

1

2

0

3

1699

0.46

0.30

Glades

0

0

0

1

0

1

5790

0.13

0.09

Gulf

0

0

0

2

0

2

2483

0.31

0.21

Hamilton

0

0

0

0

0

0

 

0.00

0.00

Hardee

0

0

0

4

1

5

1964

0.39

0.26

Hendry

0

0

0

10

2

12

1025

0.76

0.50

Hernando

0

0

30

72

1

103

609

1.27

0.84

Highlands

0

0

5

25

4

34

1437

0.54

0.36

Hillsborough

0

0

256

538

46

840

507

1.53

1.01

Holmes

0

0

1

1

1

3

2666

0.29

0.19

Indian River

0

0

8

50

0

58

998

0.78

0.51

Jackson

0

0

0

4

0

4

4873

0.16

0.10

Jefferson

0

0

0

1

0

1

5251

0.15

0.10

Lafayette

0

0

0

0

0

0

 

0.00

0.00

Lake

0

0

28

71

4

103

998

0.78

0.51

Lee

0

0

82

466

39

587

418

1.85

1.22

Leon

0

0

16

30

11

57

1824

0.43

0.28

Levy

0

0

0

1

0

1

16570

0.05

0.03

Madison

0

0

3

2

1

6

1306

0.59

0.39

Manatee

0

0

29

124

12

165

837

0.93

0.61

Marion

0

0

24

82

5

111

1105

0.70

0.46

Martin

0

0

5

32

1

38

1723

0.45

0.30

Miami-Dade

0

0

819

1,967

37

2,823

302

2.57

1.69

Monroe

0

0

2

24

2

28

1843

0.42

0.28

Nassau

0

0

4

32

4

40

648

1.20

0.79

Okaloosa

0

0

8

28

7

43

1828

0.42

0.28

Okeechobee

0

0

0

8

1

9

1723

0.45

0.30

Orange

0

0

64

399

11

474

779

0.99

0.66

Osceola

0

0

80

249

12

341

212

3.66

2.41

Palm Beach

2

0

152

609

21

784

710

1.09

0.72

Pasco

0

0

102

210

9

321

539

1.44

0.95

Pinellas

0

0

235

455

37

727

662

1.17

0.77

Polk

1

0

159

506

19

685

330

2.35

1.55

Putnam

0

0

15

26

4

45

753

1.03

0.68

Saint Johns

0

0

22

60

4

86

675

1.15

0.76

Saint Lucie

0

0

47

315

8

370

247

3.14

2.07

Santa Rosa

0

0

19

41

6

66

744

1.04

0.69

Sarasota

1

0

41

153

4

199

917

0.85

0.56

Seminole

0

0

29

221

6

256

575

1.35

0.89

Sumter

0

0

6

2

0

8

3149

0.25

0.16

Suwannee

0

0

0

1

0

1

15679

0.05

0.03

Taylor

0

0

2

1

2

5

1929

0.40

0.26

Union

0

0

0

0

0

0

 

0.00

0.00

Volusia

1

0

92

250

7

350

606

1.28

0.84

Wakulla

0

0

0

14

0

14

701

1.11

0.73

Walton

0

0

5

38

6

49

594

1.31

0.86

Washington

0

0

1

2

1

4

2376

0.33

0.22

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new homes, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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