The Real Deal Miami

South Florida still tops nation in foreclosures

Region's activity increases from December to January but declines from previous year
February 13, 2014 12:45PM

foreclosuresSouth Florida’s foreclosure activity is dropping, but the region still has more new filings than any other major metropolitan area in the nation.

The latest report from Irvine, Calif.-based RealtyTrac shows the region had 10,302 filings, judgments and repossessions in January. That represents a nearly 4.6 percent decline from January 2013 but a whopping 50.4 percent increase from December. One in every 239 South Florida housing units was in some stage of foreclosure last month.

RealtyTrac vice president Daren Blomquist said the monthly increase in foreclosure activity was “somewhat expected” following a “holiday lull.” But some regions have not completely emerged from the foreclosure backlog created by the housing bust.

Florida’s overall foreclosure activity had a year-over-year decline of 13 percent but rose 19 percent from December. — Eric Kalis