Compiled by Realty Trac, this count includes new default notices, foreclosure auction notices, and bank repossessions- also referred to as REOs- in Florida. While new foreclosure filings are much lower than last year when they peaked at over 59,000 in one month, they have been rising generally over the last six months. Banks have recently increased the pace at which they are processing foreclosures, which partially accounts for the rising trend. However, persistent delinquency rates, a large volume of underwater homes, and other factors have proven difficult. Conditions should improve though as foreclosures clear the market.
Source: Realty Trac