The Real Deal Miami

Florida ranks first nationwide in foreclosure inventory rate

May 30, 2012 03:00PM

While there was a year-over-year decline in completed foreclosures across the nation, Florida ranked first among the five states with the highest foreclosure inventory rate in April 2012, according to data released today by CoreLogic. But, in fact, Florida’s foreclosure inventory rate decreased slightly month-over-month.

Foreclosure inventory rate is the foreclosure inventory as a percentage of all mortgaged homes.

Florida’s foreclosure inventory rate now comes in at an even 12.0 percent, as opposed to last month’s 17 percent. Flordia’s foreclosure inventory rate fell 0.4 percent in percent point change since April 2011. There were a total of 92,317 completed foreclosures in the state for the year ending April 2012.

New Jersey came in with the second highest foreclosure inventory last month at 6.7 percent. Illinois took third place at 5.3 percent. The five states with the highest number of foreclosures in the last 12 months are California with 142,000, Florida with 92,000, Michigan with 60,000, Texas with 58,000 and Georgia at 57,000. — Zachary Kussin