Florida was home to 17 percent of foreclosures that took place during a 12-month period that ended in August.
That’s 111,000 out of 658,463 of the foreclosed home across the nation.
The next closest was Michigan, with 9 percent of the foreclosure total.
The top five states for foreclosures during that year period were:
Read more at Florida Realtors.
The number of distressed properties is declining. Short sales and foreclosures accounted for nearly a third of all sales from 2008 to 2011. In 2012, that number dropped to 26%, and it’s estimated that that number will drop even further, to 17% for 2013. They’re expecting percentages to fall to single digits by 2015.
This is great news for people underwater. It means your home values will continue to improve. If you’ve been thinking about buying a home, you need to start looking, because prices are going up!
Read more at NAR’s Economic Outlook Blog.