The Real Deal Miami

Florida foreclosures top California rates

December 10, 2009 12:48PM

Florida is now No. 2 in the nation for foreclosures, dislodging California and now trailing only Nevada. Market watchers fear the situation could worsen in the next two years, as high unemployment and tight financing offer few positive indications. RealtyTrac data show that one in every 119 homes in the state was in some stage of foreclosure in November. South Florida’s tri-county area was the 13th worst market in the country, with one in every 136 homes in some stage of foreclosure. [Sun Sentinel]