Foreclosure filings down 4 percent from September; rate still 2nd highest
Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 56,858 Florida properties in October, a 4 percent decrease from the previous month, but still up 10 percent from the level reported in October 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.
One in every 155 Florida housing units received a foreclosure filing in October, maintaining the state’s status as the second highest foreclosure rate in the nation.
“Florida foreclosure activity fell slightly in October, though it remained well above the level reported for this time last year, leaving the state among the worst-affected in the nation,” said James J. Saccacio , chief executive officer of RealtyTrac. “With unemployment at 12 percent, far above the national average, the state’s foreclosure woes are likely to continue into 2011.”
California remained in first place, reporting 66,475 properties with foreclosure filings in October. Michigan maintained its third place ranking for the third consecutive month, reporting 19,288 properties with foreclosure filings for the month. Illinois moved up two spots to rank the fourth highest foreclosure total, tallying 16,969 properties with foreclosure filings, narrowly beating out fifth place Arizona, which moved down one spot reporting 16,538 properties with foreclosure filings for the month.
The remaining states in the nation’s foreclosure top 10 for October were Georgia (14,850), Nevada (14,205), Ohio (13,233), Texas (13,008) and Washington (6,346). The nation’s top 10 accounted for 72 percent of all foreclosure filings in the nation for the month.
Palm Beach County posts state’s top foreclosure rate for October
Broward County led the state in foreclosure activity in October
Broward County had the top foreclosure total, reporting 7,324 properties with foreclosure filings for the month. Palm Beach County tallied the second highest foreclosure level, reporting 6,851 properties with foreclosure filings. Third highest total was in Miami-Dade County, where 5,786 properties with foreclosure filings were reported. Fourth highest was Hillsborough County, where 4,485 properties with foreclosure filings were reported. Orange County had the fifth highest total, reporting 4,257 properties with foreclosure filings.
State remains the second largest contributor to nation’s monthly foreclosure total
Florida accounted for 17 percent of the 332,172 properties with foreclosure filings reported nationwide in October. Total U.S. activity decreased by more than 4 percent from the previous month, and was down fractionally from the level reported in October 2009. One in every 389 U.S. housing units received a foreclosure filing during the month.
County | NOD | LIS | NTS | NFS | REO | Total | 1/every X HU (rate) | % Chg Sept 10 | % Chg Oct 09 |
United States | 43,271 | 57,304 | 92,989 | 45,372 | 93,236 | 332,172 | 389 | -4.39 | -0.04 |
0 | 22,556 | 0 | 20,868 | 13,434 | 56,858 | 155 | -4.46 | 9.53 | |
Broward | 0 | 2,891 | 0 | 2,883 | 1,550 | 7,324 | 110 | 4.64 | 7.75 |
Palm Beach | 0 | 1,958 | 0 | 3,236 | 1,657 | 6,851 | 94 | -23.39 | 104.51 |
Miami-Dade | 0 | 3,218 | 0 | 828 | 1,740 | 5,786 | 169 | -12.57 | -25.26 |
Hillsborough | 0 | 1,549 | 0 | 2,247 | 689 | 4,485 | 116 | 39.29 | 47.10 |
Orange | 0 | 1,310 | 0 | 1,961 | 986 | 4,257 | 108 | -1.64 | -6.54 |
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