RealtyTrac: Florida foreclosure activity down 17%

One in every 162 Miami homes is in foreclosure.
One in every 162 Miami homes is in foreclosure.

Foreclosure activity in Florida dropped 17 percent in the third quarter, compared with the same period last year, according to RealtyTrac.

But after top-ranked Nevada, Florida still had the second-highest foreclosure rate in the third quarter, one of every 186 housing units has a foreclosure filing.

RealtyTrac also reported that five metropolitan foreclosure rates in Florida rank among the 10 highest nationwide: one in every 153 housing units in Jacksonville, one in every 155 in Daytona Beach, one in every 162 in Tampa and in Miami, one in every 176 in Lakeland, and one in every 179 in Ocala.

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The biggest declines in third-quarter foreclosure activity among the 20 biggest metropolitan areas included a 16 percent decline in Miami.

Mike Pappas, CEO and president of Keyes Realty, said in a prepared statement that “the South Florida real estate market is back to normal after a 10-year roller coaste ride.”