Florida Foreclosures: Good News and Bad News

The good news: the foreclosure rate in Florida is dropping. The bad news: Florida is still 3rd overall in the U.S. for number of foreclosure filings, and the "Orlando-Kissimmee" metropolitan area is the ninth highest, with one in every 117 housing units in foreclosure. RealyTrac released its numbers today and concluded about Florida:

Florida posted the third highest state foreclosure rate, with one in every 168 housing units receiving a foreclosure filing in October. A total of 51,911 Florida properties received a foreclosure filing during the month, a nearly 6 percent decrease from the previous month and a decrease of 4 percent from October 2008. It was the first year-over-year decrease in overall Florida foreclosure activity since July 2006.

According to the article, Nevada and California exceed Florida in foreclosure filings, and four states accounted for 52 percent of the nation’s total foreclosure activity in October: California, Florida, Illinois and Michigan.