REOs Highest in Florida – Again

Florida Foreclosures by Housing UnitsRealtyTrac’s report on the foreclosure market for the month of October is out, and the stats are in: Maryland has beat us out here in Florida for the nation’s highest foreclosure rate out of all states — but just barely. However, Florida is still holding steady as the record holder for the most REOs. While Maryland is number one percentagewise, Florida still retained the largest number of actual foreclosure filings for October at over 20,000.

According to RealtyTrac, REOs in Florida actually declined by 13% from September, and by 31% from October of last year. Month-over-month, the Sunshine State’s forclosure stats declined overall by 2.19% and 24.9% year-over-year in October.

The major metropolitan areas of Florida are also seeing a decrease in foreclosure activity: Miami (number one in the country) was down 27% from last year; Orlando decreased by 11%, Tampa decreased by 23%, and Jacksonville was down by a whopping 37% 37%. Nevertheless, all these areas remain the highest of metro areas in foreclosure rates throughout the United States.

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