Florida leads the U.S. in number of completed foreclosures
Nationwide, foreclosures were down on a year-over-year basis — with the number of completed foreclosures in Florida down by nearly 3 percent in January of this year, according to a CoreLogic report released today.
There were 111,321 foreclosures recorded in Florida out of 552,048 nationwide from January 2014 to January of this year, accounting for 20 percent of the U.S. total, and leading the nation.
“The foreclosure inventory continues to shrink with declines in all 50 states over the past 12 months,” Anand Nallathambi, president and CEO of CoreLogic, said in a statement. “Florida, one of the hardest hit states during the foreclosure crisis, experienced a decline of almost 50 percent year over year, which is outstanding news.”
Michigan, Texas, California and Georgia followed, according to the report.
South Florida has second highest share of cash sales in U.S.
Miami-Dade had the second highest share of cash sales in the country with 58.3 percent, followed by Palm Beach and Broward, CoreLogic reported. The Detroit metropolitan area was No.1, with cash sales representing more than 65 percent of all home sales in December 2014, compared to December 2013.
Syracuse, New York had the lowest cash sales share at 15 percent.