The Real Deal Miami

Foreclosures, existing home sales increase

March 12, 2009 09:57AM

National foreclosure increases leave Florida ranked second in the nation, according to a report from, despite voluntary halts on the process by many banks. The state had a 14 percent jump in foreclosures from January, and a 43 percent increase from a year ago. The hike was due in large part to a nearly 158 percent year-over-year increase in auction sale notices and a 128 percent year-over-year increase in bank repossessions. On the flip side, many of the homes going into foreclosure are being bought, said Darrell Naquin of Coldwell Banker in West Palm Beach. Existing home sales have climbed for five consecutive months.