Foreclosure Notices Plummet In Florida
MIAMI (CBS4) - Foreclosures in January increased by just one percent from December numbers and were 17 percent less than in January 2010, according to Realty Trac.com. It's the latest signal that the real estate market may finally be stabilizing.
The news for Florida was even better as no city in the Sunshine State was in the top 20 for metro foreclosures in January. Just last year, Florida accounted for nine of the top 20 worst metro areas for foreclosures in 2010.
Florida also dropped to number nine when looking at foreclosures by state. As of January, one in every 409 homes was in some sort of state of foreclosure, Realty Trac found.
But, Florida foreclosures dropped by 54 percent from the same time in January 2010. January 2011 was also the fourth straight month of declines in foreclosure activity in the Sunshine State.
Still, there is work that needs to be done as Florida's 21,761 properties receiving a foreclosure notice in January, while a 42 month low, was still the second highest in the nation.
Nationwide, Nevada continued to have the worst rate of foreclosure at one in every 93 households in foreclosure. It translated to a 3.5 percent increase in foreclosures from the same time last year.
