Florida Foreclosure Activity Rises in October

Statewide filings up 37 percent  from September; Rate fourth highest

Foreclosure filings — default  notices, scheduled auctions and bank repossessions — were reported on 33,073 Florida properties in  October, a 37 percent increase from September, but 42 percent below the level  reported for October 2010, according to the  latest RealtyTrac® U.S. Foreclosure Market Report.

Florida had the fourth highest foreclosure rate  in the nation, reporting one in every 268 housing units with a foreclosure  filing in October.

California continues to lead the nation in terms of total  properties with foreclosure filings, reporting 55,312 in October. Florida came in second highest once again, followed by Michigan in third place,  reporting 16,106 properties with foreclosure filings. Illinois had the fourth  highest total, reporting 12,522 properties with foreclosure filings while Arizona  took fifth place, tallying 10,626 properties with foreclosure filings.

The remaining states that make up the nation’s  top 10 in October include Georgia (10,010), Texas (9,845), Ohio (8,691), Nevada  (6,307) and Colorado (4,729). The top 10 accounted for 72 percent of the  nation’s total foreclosure activity for the month.

Miami-Dade County posts top foreclosure rate and  total in the state for October
  One in every 181 housing units in Miami-Dade County  had a foreclosure filing in October — 3.1 times the national average and 1.5  times the state average — the highest foreclosure rate of all Florida counties for the month. Miami-Dade  also had the highest foreclosure total, reporting 5,402 properties with  foreclosure fillings.

Orange County had the second highest rate of one  in every 185 housing units with a foreclosure filing during the month — 3.1  times the national average and 1.5 times the state average. Charlotte County  had the third highest rate of one in every 187 housing units with a foreclosure  filing during the month — three times the national average and 1.4 times the  state average.

Broward County had the second highest activity level in the state,  reporting 3,725 properties with foreclosure filings. Orange County  was third highest, reporting 2,517 properties with foreclosure filings. Fourth  highest was Palm Beach County, recording 2,494 properties with foreclosure  filings. Lee County was fifth highest, tallying 1,922 properties with  foreclosure filings for the month.

State the nation’s second largest contributor to total  foreclosure activity in October
  Florida accounted for 14 percent of the 230,678  properties with foreclosure filings reported nationwide in October. Total U.S. activity  increased by more than 7 percent from September, but was down nearly 31 percent  from the level reported in October 2010. One in every 563 U.S. housing units received  a foreclosure filing during the month.

“The October foreclosure numbers continue to show strong signs that  foreclosure activity is coming out of the rain delay we’ve been in for the past  year as lenders corrected foreclosure paperwork and processing problems,” said  James Saccacio, chief executive officer of RealtyTrac. “However, recent state  court rulings and new state laws keep changing the rules of the foreclosure  game on the fly, creating more uncertainty in the housing market and  threatening to prolong the road to a robust real estate recovery.”

 

Florida Top Foreclosure Rates By County – October 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

38,451

39,282

59,380

25,941

67,624

230,678

563

n/a

n/a

Florida

0

15,234

0

10,655

7,184

33,073

268

2.10

n/a

 

 

 

 

 

 

 

 

 

 

Miami-Dade

0

2,596

0

1,704

1,102

5,402

181

3.11

1.48

Orange

0

931

0

974

612

2,517

185

3.05

1.45

Charlotte

0

170

0

152

220

542

187

3.01

1.43

Lee

0

954

0

441

527

1,922

190

2.96

1.41

Seminole

0

392

0

230

221

843

207

2.72

1.29

 Florida Top Foreclosure Totals by County – October 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Sep 11

% Chg Oct 10

 

 

 

 

 

 

 

 

 

 

United States

38,451

39,282

59,380

25,941

67,624

230,678

563

7.36

-30.55

Florida

0

15,234

0

10,655

7,184

33,073

268

37.36

-41.83

 

 

 

 

 

 

 

 

 

 

Miami-Dade

0

2,596

0

1,704

1,102

5,402

181

57.77

-6.64

Broward

0

1,281

0

1,509

935

3,725

217

45.91

-49.14

Orange

0

931

0

974

612

2,517

185

28.22

-40.87

Palm Beach

0

885

0

980

629

2,494

257

31.61

-63.60

Lee

0

954

0

441

527

1,922

190

39.48

-49.43

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved