The Real Deal Miami

Florida again tops nation in foreclosures

South Florida ranks at the top of U.S. metro areas
June 13, 2013 11:00AM

Daren Blomquist

Florida resumed its reign at the top of the nation’s foreclosure rankings in May, according to Irvine, Calif.-based RealtyTrac.

In the Sunshine State, one in every 302 homes was in some stage of repossession last month, according to RealtyTrac. That’s about three times the national average.

South Florida, which includes Miami-Dade, Broward and Palm Beach counties, had the highest foreclosure rate among metropolitan areas at one in 209 homes.

Florida led the nation for six consecutive months until being surpassed by Nevada in April.

Many of the cases working their way through the court system now are delinquent mortgages from the housing bust that lenders finally are addressing, RealtyTrac spokesman Daren Blomquist said. The numbers are well below the 2009 peak.

“These are inevitable foreclosures that need to happen for the market to be completely healthy,” he said. –Emily Schmall