The Real Deal Miami

More million-dollar homes head to foreclosure

September 19, 2008 11:09AM

The foreclosure epidemic is hitting million-dollar homes nationwide. In the first six months of the year, 7,968 homes valued at more than $1 million were in some stage of foreclosure, according to RealtyTrac, compared to 4,214 homes during the same period last year. The number of foreclosed homes above $2 million has more than doubled, with 499 to date this year, compared to 201 during the same time last year.