Miami-Dade and Broward counties still lead the nation in foreclosures despite a 25 percent year-over-year drop in foreclosure activity during the first quarter of 2014.
The Greater Miami area, which includes Fort Lauderdale and Pompano Beach, had the highest foreclosure rate of the nation’s 20 largest metropolitan areas during the quarter, the Miami Herald reported, citing RealtyTrac data. One in every 106 homes in Greater Miami was in some stage of foreclosure during the quarter. The national rate was one in every 1,121 residences.
Tampa, Chicago, Riverside, Calif. and Baltimore followed Greater Miami on RealtyTrac’s list.
Statewide, Florida had the highest foreclosure rate in the first quarter. One in every 129 homes in the state dealt with some form of foreclosure. RealtyTrac includes default notices, scheduled auctions and bank repossessions in its breakdown of foreclosure activity. [Miami Herald] — Eric Kalis