Florida Takes 4th Spot Among States with Most Foreclosures

by Donald Hanz on States

Still coming in among the top states for foreclosures, but showing a slight decrease in the standings, Florida ranked fourth among states with the highest foreclosure rate for the month of April 2008. With 35,000 properties receiving notice of a foreclosure filing, which equals roughly 1 in 250, well above the national average of one in just over 500, Florida saw it’s foreclosure activity increase by 17% from March. Year over year, the statistics for April 2008 are 150% higher than they were in April of 2007.

Florida’s rate rose, but it still managed to slip in the standings, largely due to the ever increasing rates of other states that have outpaced Florida. California, Nevada and Arizona came in the top spots, as their markets continue to be ravaged by foreclosure properties popping up at higher rates.

Florida’s Miami-Dade, Broward and Lee counties continue to be hit very hard by foreclosures, but the upward trend is being experienced all over the state in high and low income areas.

Nationally, over 2% of all properties are now in some stage of foreclosure.