Florida is Third Highest Foreclosure State

Real Estate Agent with RE/MAX Exclusive Collection

Despite decreasing numbers of late mortgage payments across the nation, there are several areas in the country where foreclosures are still occurring with record numbers.

RealtyTrac reported that July was the third month in a row where figures showed an increase of foreclosure rates. This has been an unfortunate reversal in what had been up till then a year of steady decreases.

In particular, foreclosures seem to be happening in several key markets throughout the United States. Florida claimed the number three spot in states with the highest foreclosure rates, averaging about one in every 352 housing units. Only Arizona, with one in every 346, and California, with one in every 325, beat it out.

Adding to the significance of this finding is that the sale of non-distressed homes has increased to the point that, despite decreasing sales of distressed homes, June saw a 4.5 percent increase in total home sales. The number of distressed home sales fell to their lowest point nationwide in four years, with a sharp decline in the number of properties currently available.

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